Tectonic Therapeutic (NASDAQ:TECX) is BML Capital Management LLC’s 7th Largest Position

BML Capital Management LLC lowered its holdings in Tectonic Therapeutic (NASDAQ:TECX) by 54.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,752 shares of the company’s stock after selling 254,295 shares during the period. Tectonic Therapeutic makes up 3.8% of BML Capital Management LLC’s holdings, making the stock its 7th biggest holding. BML Capital Management LLC owned approximately 1.44% of Tectonic Therapeutic worth $6,416,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $45,000. Affinity Asset Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at $961,000. Renaissance Technologies LLC purchased a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth $1,466,000. Acadian Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth $1,804,000. Finally, Atlas Venture Life Science Advisors LLC acquired a new stake in Tectonic Therapeutic in the second quarter valued at $6,233,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Price Performance

TECX traded down $1.17 on Tuesday, reaching $44.90. The company had a trading volume of 17,967 shares, compared to its average volume of 48,294. Tectonic Therapeutic has a 1 year low of $12.12 and a 1 year high of $47.99. The company has a market cap of $661.38 million, a PE ratio of -7.86 and a beta of 2.60. The stock’s 50-day simple moving average is $30.59.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results 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 earnings per share for the current year.

Insider Activity

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 50,000 shares of Tectonic Therapeutic stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the acquisition, the director now owns 3,796,764 shares of the company’s stock, valued at approximately $109,422,738.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Timothy A. Springer purchased 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, for a total transaction of $1,441,000.00. Following the completion of the purchase, the director now directly owns 3,796,764 shares in the company, valued at $109,422,738.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy A. Springer purchased 300,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average price of $33.59 per share, for a total transaction of $10,077,000.00. Following the completion of the purchase, the director now owns 4,096,764 shares of the company’s stock, valued at approximately $137,610,302.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TECX shares. Wells Fargo & Company boosted their target price on Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday. Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Leerink Partners boosted their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tectonic Therapeutic has a consensus rating of “Buy” and an average target price of $74.67.

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.