Tectonic Therapeutic (NASDAQ:TECX) Short Interest Update

Tectonic Therapeutic (NASDAQ:TECX) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 888,500 shares, a decline of 16.2% from the January 31st total of 1,060,000 shares. Approximately 10.3% of the company’s shares are sold short. Based on an average trading volume of 284,700 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TECX shares. Wells Fargo & Company increased their price objective 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. Raymond James started coverage on shares of Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Finally, Leerink Partners boosted their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $80.50.

Insider Activity at Tectonic Therapeutic

In other news, CFO Daniel Lochner acquired 4,617 shares of Tectonic Therapeutic stock in a transaction on Wednesday, February 5th. The shares were bought 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 directly owns 4,617 shares of the company’s stock, valued at $249,964.38. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy A. Springer bought 129,294 shares of the stock in a transaction on Wednesday, February 5th. The stock was purchased at an average price of $54.14 per share, with a total value of $6,999,977.16. Following the completion of the acquisition, the director now directly owns 4,226,058 shares in the company, valued at approximately $228,798,780.12. This trade represents a 3.16 % increase in their position. The disclosure for this purchase can be found here. 9.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nordwand Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the third quarter worth $45,000. JPMorgan Chase & Co. raised its stake in Tectonic Therapeutic by 5,554.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock worth $57,000 after acquiring an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC acquired a new stake in Tectonic Therapeutic during the 4th quarter worth about $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tectonic Therapeutic during the 4th quarter valued at about $144,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Tectonic Therapeutic in the fourth quarter valued at about $218,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Up 2.6 %

Shares of TECX stock traded up $0.60 during trading hours on Wednesday, reaching $23.73. 180,745 shares of the company’s stock were exchanged, compared to its average volume of 402,839. Tectonic Therapeutic has a 1 year low of $13.80 and a 1 year high of $61.07. The stock has a market cap of $350.04 million, a PE ratio of -4.03 and a beta of 2.62. The stock’s fifty day moving average price is $38.96 and its two-hundred day moving average price is $36.16.

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.