Tectonic Therapeutic (NASDAQ:TECX) CFO Daniel Lochner Buys 4,617 Shares of Stock

Tectonic Therapeutic (NASDAQ:TECX) CFO Daniel Lochner purchased 4,617 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the completion of the transaction, the chief financial officer now directly owns 4,617 shares in the company, valued at approximately $249,964.38. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Tectonic Therapeutic Stock Down 14.4 %

NASDAQ:TECX opened at $36.45 on Friday. The firm has a market capitalization of $537.64 million, a PE ratio of -6.19 and a beta of 2.62. Tectonic Therapeutic has a 12-month low of $13.80 and a 12-month high of $61.07. The firm has a 50-day moving average price of $45.25 and a 200 day moving average price of $34.39.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). On average, research analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current year.

Wall Street Analyst Weigh In

TECX has been the subject of several research reports. Wells Fargo & Company increased their target price on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Leerink Partners raised their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Raymond James initiated coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $80.50.

Institutional Trading of Tectonic Therapeutic

A number of large investors have recently bought and sold shares of the stock. Nordwand Advisors LLC bought a new position in shares of Tectonic Therapeutic during the third quarter valued at $45,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter worth about $144,000. Charles Schwab Investment Management Inc. acquired a new position in Tectonic Therapeutic in the fourth quarter valued at about $218,000. Raymond James Financial Inc. bought a new stake in Tectonic Therapeutic during the fourth quarter worth about $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Tectonic Therapeutic during the third quarter worth about $233,000. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Company Profile

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.