Tectonic Therapeutic (NASDAQ:TECX) is 5AM Venture Management LLC’s 4th Largest Position

5AM Venture Management LLC decreased its stake in Tectonic Therapeutic (NASDAQ:TECX) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 596,660 shares of the company’s stock after selling 49,864 shares during the quarter. Tectonic Therapeutic comprises 6.6% of 5AM Venture Management LLC’s portfolio, making the stock its 4th biggest holding. 5AM Venture Management LLC owned about 4.05% of Tectonic Therapeutic worth $27,548,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in TECX. JPMorgan Chase & Co. grew its stake in Tectonic Therapeutic by 5,554.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock worth $57,000 after purchasing an additional 1,222 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Tectonic Therapeutic during the 4th quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tectonic Therapeutic in the 4th quarter worth approximately $144,000. Charles Schwab Investment Management Inc. acquired a new stake in Tectonic Therapeutic in the 4th quarter valued at $218,000. Finally, Raymond James Financial Inc. acquired a new stake in Tectonic Therapeutic during the 4th quarter worth $228,000. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Stock Down 5.8 %

Shares of Tectonic Therapeutic 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 firm has a market cap of $367.07 million, a price-to-earnings ratio of -3.34 and a beta of 2.87. The company’s 50-day simple moving average is $20.27 and its 200-day simple moving average is $34.92.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.55. Equities research analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insider Transactions at Tectonic Therapeutic

In related news, CFO Daniel Lochner purchased 4,617 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the acquisition, the chief financial officer now owns 4,617 shares in the company, valued at approximately $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy A. Springer acquired 129,294 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were purchased at an average price of $54.14 per share, for a total transaction of $6,999,977.16. Following the purchase, the director now directly owns 4,226,058 shares of the company’s stock, valued at approximately $228,798,780.12. This trade represents a 3.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 234,607 shares of company stock worth $8,955,655 over the last quarter. 9.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Tectonic Therapeutic Company Profile

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.