Tectonic Therapeutic (NASDAQ:TECX) Short Interest Update

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

Insider Buying and Selling at Tectonic Therapeutic

In other news, Director Timothy A. Springer acquired 50,000 shares of the business’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 acquisition, the director now owns 3,796,764 shares of the company’s stock, valued at approximately $109,422,738.48. This trade represents a 1.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 9.20% of the stock is currently owned by company insiders.

Institutional Trading of Tectonic Therapeutic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the third quarter worth about $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Tectonic Therapeutic in the 3rd quarter valued at about $233,000. Acuta Capital Partners LLC acquired a new position in Tectonic Therapeutic in the 3rd quarter worth about $415,000. Affinity Asset Advisors LLC purchased a new position in Tectonic Therapeutic during the second quarter worth approximately $961,000. Finally, Walleye Capital LLC grew its holdings in Tectonic Therapeutic by 204.2% in the third quarter. Walleye Capital LLC now owns 72,962 shares of the company’s stock valued at $2,211,000 after purchasing an additional 48,978 shares during the period. Institutional investors and hedge funds own 62.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price target 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. Leerink Partners boosted 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, Raymond James started coverage on shares of Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $72.25.

Tectonic Therapeutic Stock Up 1.3 %

Shares of NASDAQ TECX opened at $49.78 on Monday. The firm has a market cap of $734.40 million, a PE ratio of -8.45 and a beta of 2.60. The stock’s 50 day moving average price is $38.19. Tectonic Therapeutic has a 12 month low of $12.12 and a 12 month high of $51.11.

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.