Tectonic Therapeutic (NASDAQ:TECX) Short Interest Update

Tectonic Therapeutic (NASDAQ:TECX) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 439,300 shares, an increase of 23.7% from the October 31st total of 355,100 shares. Currently, 5.6% of the company’s stock are short sold. Based on an average trading volume of 122,200 shares, the short-interest ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

Several research firms have commented on TECX. Leerink Partners boosted their target price on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Raymond James began coverage on shares of Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Wells Fargo & Company increased 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. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $72.25.

Insider Buying and Selling

In other news, Director Timothy A. Springer acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average price of $28.82 per share, for a total transaction 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 1.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Tectonic Therapeutic in the second quarter valued at about $1,804,000. Atlas Venture Life Science Advisors LLC bought a new position in Tectonic Therapeutic in the 2nd quarter worth approximately $6,233,000. Renaissance Technologies LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $1,466,000. Farallon Capital Management LLC bought a new stake in shares of Tectonic Therapeutic in the second quarter valued at approximately $7,099,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the second quarter worth $961,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Up 1.3 %

Shares of Tectonic Therapeutic stock traded up $0.62 on Friday, reaching $49.78. The stock had a trading volume of 50,547 shares, compared to its average volume of 52,350. Tectonic Therapeutic has a fifty-two week low of $12.12 and a fifty-two week high of $51.11. The business has a 50-day moving average price of $38.19. The company has a market capitalization of $734.26 million, a PE ratio of -8.45 and a beta of 2.60.

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.