13,700 Shares in Tectonic Therapeutic (NASDAQ:TECX) Acquired by Acuta Capital Partners LLC

Acuta Capital Partners LLC acquired a new position in shares of Tectonic Therapeutic (NASDAQ:TECX) during the third quarter, HoldingsChannel reports. The institutional investor acquired 13,700 shares of the company’s stock, valued at approximately $415,000.

Other institutional investors have also modified their holdings of the company. Nordwand Advisors LLC acquired a new stake in Tectonic Therapeutic during the 3rd quarter worth $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Tectonic Therapeutic during the 3rd quarter worth approximately $233,000. Affinity Asset Advisors LLC purchased a new stake in Tectonic Therapeutic in the second quarter valued at approximately $961,000. Renaissance Technologies LLC acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at $1,466,000. Finally, Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic in the second quarter valued at $1,804,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TECX. Raymond James initiated coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target on the stock. Leerink Partners boosted their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company increased their price target on Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tectonic Therapeutic currently has a consensus rating of “Buy” and a consensus target price of $72.25.

Tectonic Therapeutic Trading Up 2.8 %

Shares of TECX stock opened at $49.16 on Thursday. The stock’s 50 day simple moving average is $37.01. The stock has a market cap of $725.11 million, a P/E ratio of -8.35 and a beta of 2.60. Tectonic Therapeutic has a 12-month low of $12.12 and a 12-month high of $50.53.

Insiders Place Their Bets

In related news, Director Timothy A. Springer bought 300,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were bought at an average cost of $33.59 per share, for a total transaction of $10,077,000.00. Following the completion of the transaction, the director now owns 4,096,764 shares of the company’s stock, valued at $137,610,302.76. This represents a 7.90 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.20% of the stock is currently owned by company insiders.

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.