10 Stocks With At Least $20 Million In Insider Spending Recently

2. Tectonic Therapeutic, Inc. (NASDAQ:TECX)

Highest Individual Purchase: $33,000,000.00

Number of Purchases Worth Between $20 million and $35 million: 1

Market Capitalization: $466.22 million

Second among 10 stocks with at least $20 million in insider spending over the last three months is Tectonic Therapeutic. This is a biotechnology company engaged in the discovery and development of therapeutic proteins and antibodies that modulate the activity of G-protein coupled receptors (GPCRs).

Leveraging its proprietary technology platform, GEODe, the Watertown, Massachusetts-based company is developing innovative biological therapeutics aimed at harnessing the human body to alter the progression of disease. Tectonic primarily focuses on medical conditions with few or no available treatment options. The company was co-founded by Timothy A. Springer and Andrew C. Kruse from Harvard Medical School.

In January, the company shared positive early results from its Phase 1b clinical trial of TX45, its main product candidate. TX45 is a long-acting Fc-relaxin fusion protein designed to help improve heart and lung function. The results showed that a single intravenous dose of TX45 led to significant improvements in heart and lung function in patients with Group 2 Pulmonary Hypertension in Heart Failure with Preserved Ejection Fraction (PH-HFpEF). The treatment was well tolerated, with no serious or severe side effects reported.

On February 5, one insider acquired $33 million worth of Tectonic shares at a price of $50 per share. The purchase was part of the company’s $185 million private placement. The stock has lost 49.30% year-to-date and is now trading at $23.41 per share.

Five analysts have an average “Strong Buy” rating on Tectonic stock, according to data from StockAnalysis. The average 12-month price target is $80.5 per share, representing a 243.87% increase from the latest price.