Clarius Group LLC Takes $468,000 Position in Tectonic Therapeutic (NASDAQ:TECX)

Clarius Group LLC bought a new position in shares of Tectonic Therapeutic (NASDAQ:TECX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,130 shares of the company’s stock, valued at approximately $468,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TECX. Nordwand Advisors LLC bought a new position in shares of Tectonic Therapeutic during the 3rd quarter worth about $45,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic during the third quarter worth about $233,000. Acuta Capital Partners LLC acquired a new stake in Tectonic Therapeutic during the third quarter valued at approximately $415,000. Exome Asset Management LLC boosted its holdings in Tectonic Therapeutic by 12.2% during the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after purchasing an additional 3,955 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at approximately $961,000. 62.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TECX has been the topic of several recent analyst reports. Leerink Partners boosted their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Wells Fargo & Company boosted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Raymond James started coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $72.25.

Insiders Place Their Bets

In other news, Director Timothy A. Springer bought 300,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the purchase, the director now owns 4,096,764 shares of the company’s stock, valued at approximately $137,610,302.76. This represents a 7.90 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 9.20% of the company’s stock.

Tectonic Therapeutic Stock Performance

Shares of TECX stock opened at $40.90 on Monday. The stock’s fifty day moving average is $46.19 and its 200-day moving average is $31.77. Tectonic Therapeutic has a 52 week low of $12.12 and a 52 week high of $53.41. The stock has a market capitalization of $603.28 million, a PE ratio of -6.94 and a beta of 2.63.

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.