Atlas Venture Life Science Advisors LLC Has $3.62 Million Stake in Tectonic Therapeutic (NASDAQ:TECX)

Atlas Venture Life Science Advisors LLC reduced its stake in shares of Tectonic Therapeutic (NASDAQ:TECX) by 79.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,447 shares of the company’s stock after selling 300,000 shares during the quarter. Tectonic Therapeutic accounts for 0.4% of Atlas Venture Life Science Advisors LLC’s portfolio, making the stock its 12th largest position. Atlas Venture Life Science Advisors LLC’s holdings in Tectonic Therapeutic were worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its holdings in Tectonic Therapeutic by 13.2% during the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company’s stock valued at $36,970,000 after purchasing an additional 142,600 shares in the last quarter. Ikarian Capital LLC grew its holdings in shares of Tectonic Therapeutic by 325.1% during the third quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock worth $8,094,000 after purchasing an additional 204,309 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tectonic Therapeutic by 147.7% in the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock valued at $2,331,000 after buying an additional 45,846 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of Tectonic Therapeutic by 204.2% in the third quarter. Walleye Capital LLC now owns 72,962 shares of the company’s stock valued at $2,211,000 after buying an additional 48,978 shares during the last quarter. Finally, Exome Asset Management LLC raised its holdings in shares of Tectonic Therapeutic by 12.2% in the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after buying an additional 3,955 shares during the last quarter. 62.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on TECX shares. Leerink Partners increased their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Raymond James initiated coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tectonic Therapeutic currently has an average rating of “Buy” and a consensus price target of $80.50.

Insider Buying and Selling at Tectonic Therapeutic

In other news, Director Timothy A. Springer purchased 129,294 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $54.14 per share, with a total value of $6,999,977.16. Following the acquisition, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Lochner acquired 4,617 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was purchased at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the completion of the acquisition, the chief financial officer now owns 4,617 shares in the company, valued at approximately $249,964.38. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 9.20% of the company’s stock.

Tectonic Therapeutic Trading Up 3.6 %

NASDAQ TECX opened at $23.96 on Thursday. The firm has a market capitalization of $353.48 million, a P/E ratio of -4.07 and a beta of 2.62. The firm’s fifty day moving average price is $38.43 and its two-hundred day moving average price is $36.08. Tectonic Therapeutic has a 1 year low of $13.80 and a 1 year high of $61.07.

About Tectonic Therapeutic

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.