Braidwell LP Makes New $11.56 Million Investment in Tectonic Therapeutic, Inc. $TECX

by · The Markets Daily

Braidwell LP purchased a new position in Tectonic Therapeutic, Inc. (NASDAQ:TECX – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 736,867 shares of the company’s stock, valued at approximately $11,561,000. Braidwell LP owned about 3.94% of Tectonic Therapeutic at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. grew its position in Tectonic Therapeutic by 141.0% in the third quarter. Raymond James Financial Inc. now owns 51,931 shares of the company’s stock worth $815,000 after acquiring an additional 30,387 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Tectonic Therapeutic during the third quarter valued at about $3,276,000. UBS Group AG lifted its stake in Tectonic Therapeutic by 94.1% during the third quarter. UBS Group AG now owns 66,460 shares of the company’s stock worth $1,043,000 after purchasing an additional 32,222 shares during the last quarter. DLD Asset Management LP bought a new stake in Tectonic Therapeutic during the third quarter worth about $235,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tectonic Therapeutic by 83.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,880 shares of the company’s stock worth $108,000 after purchasing an additional 3,130 shares in the last quarter. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Insider Buying and Selling

In related news, CFO Daniel Lochner purchased 6,000 shares of Tectonic Therapeutic stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average cost of $21.61 per share, for a total transaction of $129,660.00. Following the transaction, the chief financial officer directly owned 32,044 shares in the company, valued at $692,470.84. The trade was a 23.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Mcnamara sold 6,262 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $30.17, for a total value of $188,924.54. Following the completion of the sale, the insider owned 55,285 shares of the company’s stock, valued at $1,667,948.45. The trade was a 10.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,561 shares of company stock worth $566,551 in the last ninety days. 38.00% of the stock is owned by insiders.

Tectonic Therapeutic Stock Down 2.4%

Tectonic Therapeutic stock opened at $33.31 on Friday. The firm has a fifty day simple moving average of $23.08 and a two-hundred day simple moving average of $20.08. Tectonic Therapeutic, Inc. has a twelve month low of $13.70 and a twelve month high of $36.03. The company has a market capitalization of $625.56 million, a PE ratio of -8.22 and a beta of 3.76.

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. As a group, equities analysts expect that Tectonic Therapeutic, Inc. will post -8.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TECX. Truist Financial decreased their price objective on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.50.

Read Our Latest Stock Analysis on Tectonic Therapeutic

About Tectonic Therapeutic

(Free Report)

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.

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