Nordwand Advisors LLC Buys Shares of 1,500 Tectonic Therapeutic (NASDAQ:TECX)

Nordwand Advisors LLC purchased a new position in shares of Tectonic Therapeutic (NASDAQ:TECX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,500 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Affinity Asset Advisors LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $961,000. Renaissance Technologies LLC purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $1,466,000. Acadian Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $1,804,000. Atlas Venture Life Science Advisors LLC purchased a new stake in Tectonic Therapeutic in the 2nd quarter valued at approximately $6,233,000. Finally, Farallon Capital Management LLC acquired a new stake in Tectonic Therapeutic during the 2nd quarter valued at $7,099,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Timothy A. Springer purchased 300,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the acquisition, the director now owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 50,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the acquisition, the director now directly owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy A. Springer bought 300,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was acquired 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 in the company, valued at $137,610,302.76. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.20% of the stock is owned by company insiders.

Tectonic Therapeutic Stock Performance

Shares of TECX stock opened at $43.96 on Friday. The stock has a market cap of $647.53 million, a P/E ratio of -8.50 and a beta of 2.60. The company has a fifty day simple moving average of $30.05. Tectonic Therapeutic has a 52 week low of $12.12 and a 52 week high of $47.00.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.96) by ($1.85). As a group, equities analysts forecast that Tectonic Therapeutic will post -4.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TECX shares. Leerink Partners initiated coverage on Tectonic Therapeutic in a research report on Wednesday, July 24th. They set an “outperform” rating and a $49.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a report on Thursday, August 22nd. They set an “overweight” rating and a $55.00 price target for the company. Finally, Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Four 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, the company has an average rating of “Buy” and an average price target of $60.00.

Tectonic Therapeutic 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.