Affinity Asset Advisors LLC purchased a new stake in Tectonic Therapeutic (NASDAQ:TECX – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 58,331 shares of the company’s stock, valued at approximately $961,000. Affinity Asset Advisors LLC owned 0.13% of Tectonic Therapeutic as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farallon Capital Management LLC purchased a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at approximately $7,099,000. Renaissance Technologies LLC purchased a new stake in shares of Tectonic Therapeutic in the second quarter valued at $1,466,000. Atlas Venture Life Science Advisors LLC purchased a new stake in shares of Tectonic Therapeutic in the second quarter valued at $6,233,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter valued at $1,804,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.
Tectonic Therapeutic Price Performance
NASDAQ TECX opened at $24.24 on Wednesday. The firm has a market capitalization of $357.06 million, a PE ratio of 35.13 and a beta of 2.59. Tectonic Therapeutic has a 12-month low of $12.12 and a 12-month high of $24.35. The company has a 50 day simple moving average of $17.84.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Piper Sandler initiated coverage on Tectonic Therapeutic in a research report on Wednesday, June 26th. They set an “overweight” rating and a $76.00 price objective for the company. Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. TD Cowen started coverage on shares of Tectonic Therapeutic in a research report on Monday, June 24th. They issued a “buy” rating for the company. Leerink Partners initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, July 24th. They set an “outperform” rating and a $49.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.00.
Read Our Latest Stock Report on Tectonic Therapeutic
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.
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