Tectonic Therapeutic, Inc. (NASDAQ:TECX – Get Free Report) has received an average recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $80.6667.
Several brokerages have issued reports on TECX. Stifel Nicolaus began coverage on Tectonic Therapeutic in a research report on Monday, April 13th. They set a “buy” rating and a $75.00 target price on the stock. Raymond James Financial raised Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $76.00 to $81.00 in a research report on Tuesday. Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Wall Street Zen downgraded shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Tuesday, April 21st.
View Our Latest Stock Report on Tectonic Therapeutic
Insider Activity at Tectonic Therapeutic
Institutional Investors Weigh In On Tectonic Therapeutic
Several institutional investors have recently bought and sold shares of TECX. Baker BROS. Advisors LP boosted its stake in Tectonic Therapeutic by 803.4% in the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after acquiring an additional 803,400 shares in the last quarter. Aberdeen Group plc boosted its stake in Tectonic Therapeutic by 220.6% in the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock valued at $23,818,000 after acquiring an additional 785,648 shares in the last quarter. Braidwell LP acquired a new stake in Tectonic Therapeutic in the third quarter valued at approximately $11,561,000. First Light Asset Management LLC acquired a new stake in Tectonic Therapeutic in the first quarter valued at approximately $20,022,000. Finally, Orbimed Advisors LLC acquired a new stake in Tectonic Therapeutic in the fourth quarter valued at approximately $11,986,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.
Tectonic Therapeutic Trading Up 4.7%
Shares of NASDAQ TECX opened at $31.17 on Friday. The stock has a market capitalization of $588.18 million, a PE ratio of -6.99 and a beta of 3.27. The stock’s fifty day simple moving average is $29.27 and its two-hundred day simple moving average is $24.54. Tectonic Therapeutic has a 12-month low of $14.39 and a 12-month high of $36.03.
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.18). On average, equities analysts predict that Tectonic Therapeutic will post -5.33 earnings per share for the current fiscal year.
About Tectonic Therapeutic
Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.
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