Baker Bros. Advisors Reduces $9M in Tectonic Therapeutic, Inc. ($TECX)
Key Points
- Baker Bros. Advisors changed its Tectonic Therapeutic, Inc. ($TECX) stake by 32.7% last quarter, cutting to 607,788 shares worth $18.40 million.
- Wall Street's consensus rating on $TECX is Strong Buy and an average price target of $78.44.
- $TECX last traded around $30.28.
Baker Bros. Advisors reduced its position in Tectonic Therapeutic, Inc. ($TECX) by 32.7% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 607,788 shares of Tectonic Therapeutic, Inc. after selling 295,612 shares during the quarter. Baker Bros. Advisors's holdings in Tectonic Therapeutic, Inc. were worth $18.40 million as of its most recent filing.
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About Tectonic Therapeutic, Inc.
Tectonic Therapeutic, Inc., a biotechnology company, focuses on the discovery and development of therapeutic proteins and antibodies to modulate the activity of G protein coupled receptors (GPCRs). It develops GEODe technology platform to enable the discovery and development of GPCR-targeted biologic medicines. The company's lead product is TX45, a Fc-relaxin fusion molecule that activates the RXFP1 receptor, the GPCR target of the hormone, and relaxin. It is also developing TX2100 for the treatment of hereditary hemorrhagic telangiectasia; GPCR modulator bispecific for treating fibrosis; and other GPCR modulators. The company is headquartered in Watertown, Massachusetts.
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