Lifesci Capital Begins Coverage on Tectonic Therapeutic (NASDAQ:TECX)

Lifesci Capital started coverage on shares of Tectonic Therapeutic (NASDAQ:TECX) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage issued an outperform rating and a $87.00 target price on the stock.

A number of other research analysts also recently issued reports on TECX. Wells Fargo & Company decreased their price target on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Mizuho upped their target price on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $80.50.

Tectonic Therapeutic Stock Up 2.7%

TECX opened at $23.06 on Friday. The company has a 50-day moving average price of $19.84 and a 200 day moving average price of $31.36. The company has a market cap of $430.60 million, a PE ratio of -3.92 and a beta of 3.25. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. As a group, sell-side analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Insider Activity

In related news, Director Timothy A. Springer purchased 3,718 shares of the business’s stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $54,877.68. Following the acquisition, the director now directly owns 4,317,276 shares of the company’s stock, valued at $63,722,993.76. This trade represents a 0.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 100,696 shares of company stock valued at $1,705,714 in the last three months. 38.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Tectonic Therapeutic by 5,554.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock valued at $57,000 after buying an additional 1,222 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of Tectonic Therapeutic during the fourth quarter worth about $71,000. American Century Companies Inc. purchased a new stake in Tectonic Therapeutic in the 1st quarter worth approximately $214,000. Charles Schwab Investment Management Inc. acquired a new position in Tectonic Therapeutic in the fourth quarter valued at $218,000. Finally, Raymond James Financial Inc. purchased a new position in Tectonic Therapeutic during the fourth quarter worth about $228,000. 62.63% of the stock is currently 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.