Clarius Group LLC Buys New Position in Tectonic Therapeutic (NASDAQ:TECX)

Clarius Group LLC purchased a new position in Tectonic Therapeutic (NASDAQ:TECX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,130 shares of the company’s stock, valued at approximately $468,000. Clarius Group LLC owned approximately 0.07% of Tectonic Therapeutic at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Exome Asset Management LLC increased 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Tectonic Therapeutic by 147.7% during the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock worth $2,331,000 after purchasing an additional 45,846 shares during the period. Ikarian Capital LLC boosted its position in shares of Tectonic Therapeutic by 325.1% in the 3rd quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock valued at $8,094,000 after purchasing an additional 204,309 shares during the period. Walleye Capital LLC increased its stake in Tectonic Therapeutic by 204.2% in the 3rd quarter. Walleye Capital LLC now owns 72,962 shares of the company’s stock worth $2,211,000 after purchasing an additional 48,978 shares in the last quarter. Finally, Acuta Capital Partners LLC acquired a new stake in Tectonic Therapeutic during the 3rd quarter worth about $415,000. 62.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TECX has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Raymond James assumed coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective on the stock. Finally, Leerink Partners increased their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $72.25.

Tectonic Therapeutic Stock Performance

Shares of TECX opened at $40.90 on Monday. Tectonic Therapeutic has a 52 week low of $12.12 and a 52 week high of $53.41. The company has a market capitalization of $603.28 million, a PE ratio of -6.94 and a beta of 2.63. The company’s 50 day moving average price is $46.19 and its 200 day moving average price is $31.77.

Insider Activity

In other news, Director Timothy A. Springer purchased 300,000 shares of Tectonic Therapeutic stock in a transaction dated 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 acquisition, the director now directly owns 4,096,764 shares in the company, valued at $137,610,302.76. This represents a 7.90 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.20% of the stock is currently owned by corporate insiders.

Tectonic Therapeutic Company 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.