Tectonic Therapeutic, Inc. (NASDAQ:TECX) Given Average Recommendation of “Buy” by Brokerages

Tectonic Therapeutic, Inc. (NASDAQ:TECXGet 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

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $30.00, for a total value of $31,950.00. Following the completion of the sale, the insider directly owned 67,682 shares in the company, valued at $2,030,460. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Mcnamara sold 6,262 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $30.17, for a total transaction of $188,924.54. Following the completion of the sale, the insider owned 55,285 shares of the company’s stock, valued at approximately $1,667,948.45. This trade represents a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 21,626 shares of company stock valued at $629,551. 39.80% of the stock is owned by insiders.

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:TECXGet 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

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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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Analyst Recommendations for Tectonic Therapeutic (NASDAQ:TECX)

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