Tectonic Therapeutic, Inc. (NASDAQ:TECX – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $77.80.
TECX has been the subject of several recent research reports. Raymond James Financial raised shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Friday, July 17th. Wells Fargo & Company cut their price objective on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Zacks Research cut Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th.
View Our Latest Analysis on TECX
Tectonic Therapeutic Price Performance
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.17. On average, equities research analysts expect that Tectonic Therapeutic will post -5.25 EPS for the current fiscal year.
Hedge Funds Weigh In On Tectonic Therapeutic
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Braidwell LP boosted its holdings in Tectonic Therapeutic by 25.9% in the 4th quarter. Braidwell LP now owns 927,524 shares of the company’s stock worth $19,348,000 after acquiring an additional 190,657 shares during the period. Baker BROS. Advisors LP raised its stake in shares of Tectonic Therapeutic by 803.4% during the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after purchasing an additional 803,400 shares during the period. BlackRock Inc. acquired a new position in shares of Tectonic Therapeutic during the second quarter worth $29,652,000. First Light Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the first quarter worth $20,022,000. Finally, 5AM Venture Management LLC boosted its stake in shares of Tectonic Therapeutic by 18.6% in the fourth quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock valued at $12,655,000 after purchasing an additional 95,000 shares during the period. 62.63% of the stock is owned by institutional investors and hedge funds.
Tectonic Therapeutic Company Profile
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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