Tectonic Therapeutic, Inc. $TECX Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) by 141.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,870 shares of the company’s stock after purchasing an additional 21,619 shares during the quarter. Sei Investments Co. owned about 0.20% of Tectonic Therapeutic worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TECX. Caitong International Asset Management Co. Ltd lifted its position in Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after buying an additional 3,247 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Tectonic Therapeutic during the second quarter valued at about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tectonic Therapeutic during the second quarter valued at about $119,000. JPMorgan Chase & Co. raised its stake in shares of Tectonic Therapeutic by 483.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company’s stock valued at $130,000 after acquiring an additional 5,426 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at approximately $134,000. 62.63% of the stock is owned by institutional investors and hedge funds.

Tectonic Therapeutic Stock Performance

NASDAQ TECX opened at $36.83 on Thursday. The firm has a 50 day simple moving average of $31.57 and a 200-day simple moving average of $28.87. Tectonic Therapeutic, Inc. has a one year low of $14.39 and a one year high of $39.53. The firm has a market cap of $720.03 million, a price-to-earnings ratio of -8.06 and a beta of 3.28.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, topping the consensus estimate of ($1.35) by $0.17. Equities analysts predict that Tectonic Therapeutic, Inc. will post -5.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Zacks Research cut Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Wall Street Zen upgraded Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Raymond James Financial upgraded Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.80.

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.