89,029 Shares in Tectonic Therapeutic (NASDAQ:TECX) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new position in shares of Tectonic Therapeutic (NASDAQ:TECX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 89,029 shares of the company’s stock, valued at approximately $1,466,000. Renaissance Technologies LLC owned approximately 0.20% of Tectonic Therapeutic as of its most recent SEC filing.

Separately, Atlas Venture Life Science Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth $6,233,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TECX shares. Leerink Partners started coverage on Tectonic Therapeutic in a research report on Wednesday, July 24th. They set an “outperform” rating and a $49.00 target price on the stock. TD Cowen started coverage on shares of Tectonic Therapeutic in a report on Monday, June 24th. They issued a “buy” rating for the company. Leerink Partnrs upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Piper Sandler initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on Tectonic Therapeutic in a report on Thursday, August 22nd. They set an “overweight” rating and a $55.00 price objective on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tectonic Therapeutic presently has a consensus rating of “Buy” and an average target price of $60.00.

Tectonic Therapeutic Stock Up 11.3 %

Shares of Tectonic Therapeutic stock opened at $33.02 on Friday. The firm has a fifty day simple moving average of $19.62. Tectonic Therapeutic has a 12 month low of $12.12 and a 12 month high of $33.30. The firm has a market cap of $1.48 billion, a PE ratio of 47.86 and a beta of 2.63.

Tectonic Therapeutic (NASDAQ:TECX) last posted 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). On average, equities analysts expect that Tectonic Therapeutic will post -4.91 EPS for the current year.

Insider Activity at Tectonic Therapeutic

In related news, Director Timothy A. Springer acquired 50,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the transaction, the director now owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.20% of the stock is currently owned by insiders.

About Tectonic Therapeutic

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.