Acuta Capital Partners LLC Increases Position in Tectonic Therapeutic (NASDAQ:TECX)

Acuta Capital Partners LLC lifted its holdings in Tectonic Therapeutic (NASDAQ:TECX) by 140.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,008 shares of the company’s stock after buying an additional 19,308 shares during the quarter. Tectonic Therapeutic makes up about 1.5% of Acuta Capital Partners LLC’s portfolio, making the stock its 23rd biggest position. Acuta Capital Partners LLC owned 0.22% of Tectonic Therapeutic worth $1,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Tectonic Therapeutic by 147.7% during the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock valued at $2,331,000 after acquiring an additional 45,846 shares in the last quarter. Clarius Group LLC purchased a new position in shares of Tectonic Therapeutic during the fourth quarter valued at $468,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tectonic Therapeutic in the fourth quarter worth about $144,000. Charles Schwab Investment Management Inc. bought a new position in Tectonic Therapeutic during the 4th quarter worth about $218,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter worth approximately $228,000. 62.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TECX. Mizuho started coverage on shares of Tectonic Therapeutic in a report on Monday, April 21st. They set an “outperform” rating and a $51.00 price objective on the stock. Wells Fargo & Company reduced their price target on Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tectonic Therapeutic currently has an average rating of “Buy” and a consensus price target of $72.40.

Tectonic Therapeutic Stock Down 5.8 %

TECX stock opened at $19.66 on Friday. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07. The stock has a market capitalization of $367.07 million, a PE ratio of -3.34 and a beta of 2.87. The firm has a 50 day moving average of $20.27 and a 200 day moving average of $34.92.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.55. On average, equities research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Insider Transactions at Tectonic Therapeutic

In other Tectonic Therapeutic news, CFO Daniel Lochner purchased 4,617 shares of Tectonic Therapeutic stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $54.14 per share, with a total value of $249,964.38. Following the transaction, the chief financial officer now owns 4,617 shares of the company’s stock, valued at $249,964.38. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy A. Springer acquired 87,500 shares of the company’s stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $17.10 per share, for a total transaction of $1,496,250.00. Following the completion of the acquisition, the director now directly owns 4,313,558 shares in the company, valued at approximately $73,761,841.80. The trade was a 2.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 234,607 shares of company stock worth $8,955,655 over the last three months. 9.20% of the stock is currently owned by insiders.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.