Vida Ventures Advisors LLC Takes Position in Tectonic Therapeutic (NASDAQ:TECX)

Vida Ventures Advisors LLC bought a new stake in Tectonic Therapeutic (NASDAQ:TECX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,028,674 shares of the company’s stock, valued at approximately $31,169,000. Tectonic Therapeutic accounts for about 22.5% of Vida Ventures Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Vida Ventures Advisors LLC owned 2.29% of Tectonic Therapeutic as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

TECX has been the topic of a number of recent research reports. Leerink Partners initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 price objective on the stock. TD Cowen initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, June 24th. They issued a “buy” rating on the stock. Piper Sandler initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 price objective on the stock. Finally, Leerink Partnrs upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $60.00.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $31.94 on Wednesday. The firm has a market cap of $1.43 billion, a PE ratio of 46.29 and a beta of 2.63. The firm’s 50-day moving average is $20.49. Tectonic Therapeutic has a 52 week low of $12.12 and a 52 week high of $34.50.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.96) by ($1.85). On average, equities research analysts anticipate that Tectonic Therapeutic will post -4.91 earnings per share for the current year.

Insider Transactions at Tectonic Therapeutic

In other news, Director Timothy A. Springer bought 50,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the transaction, the director now directly owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.20% of the company’s stock.

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.