Fmr LLC Has $36.97 Million Holdings in Tectonic Therapeutic (NASDAQ:TECX)

Fmr LLC increased its holdings in Tectonic Therapeutic (NASDAQ:TECX) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,220,138 shares of the company’s stock after buying an additional 142,600 shares during the period. Fmr LLC owned 8.28% of Tectonic Therapeutic worth $36,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic during the second quarter valued at approximately $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the 2nd quarter worth $6,233,000. Renaissance Technologies LLC bought a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth $1,466,000. Farallon Capital Management LLC acquired a new stake in Tectonic Therapeutic in the second quarter valued at about $7,099,000. Finally, Affinity Asset Advisors LLC bought a new position in Tectonic Therapeutic in the second quarter valued at about $961,000. 62.63% of the stock is currently owned by institutional investors.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer bought 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought 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 of the company’s stock, valued at $137,610,302.76. The trade was a 7.90 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.20% of the stock is owned by insiders.

Tectonic Therapeutic Stock Up 0.4 %

Shares of TECX stock opened at $51.47 on Monday. The company’s 50 day simple moving average is $40.63. The stock has a market cap of $759.18 million, a PE ratio of -8.74 and a beta of 2.60. Tectonic Therapeutic has a 12 month low of $12.12 and a 12 month high of $53.34.

Analyst Ratings Changes

TECX has been the subject of a number of research reports. Raymond James initiated coverage on shares of Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 target price for the company. Leerink Partners raised their target price on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company boosted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Five investment 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 stock presently has an average rating of “Buy” and an average target price of $72.25.

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.