Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Has Consensus Target Price of $77.25

Tectonic Therapeutic, Inc. (NASDAQ:TECX – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $77.80.

Several research analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $80.00 target price on shares of Tectonic Therapeutic in a research report on Wednesday. TD Cowen reissued a “buy” rating on shares of Tectonic Therapeutic in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Wells Fargo & Company cut their price objective on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th.

Check Out Our Latest Research Report on TECX

Institutional Trading of Tectonic Therapeutic

Several large investors have recently bought and sold shares of TECX. First Light Asset Management LLC raised its holdings in shares of Tectonic Therapeutic by 23.6% in the second quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock worth $27,525,000 after buying an additional 152,983 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of Tectonic Therapeutic during the second quarter valued at $206,000. Wellington Management Group LLP increased its position in shares of Tectonic Therapeutic by 7.5% in the 2nd quarter. Wellington Management Group LLP now owns 31,432 shares of the company’s stock valued at $1,080,000 after acquiring an additional 2,192 shares during the period. Bank of America Corp DE acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at $380,000. Finally, 5AM Venture Management LLC purchased a new position in Tectonic Therapeutic in the 2nd quarter worth $20,853,938. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Down 0.6%

Shares of TECX stock opened at $22.54 on Friday. The business’s fifty day simple moving average is $30.21 and its 200-day simple moving average is $30.34. The company has a market cap of $440.66 million, a PE ratio of -4.93 and a beta of 3.28. Tectonic Therapeutic has a 12-month low of $14.60 and a 12-month high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, beating the consensus estimate of ($1.35) by $0.17. On average, equities analysts forecast that Tectonic Therapeutic will post -5.27 earnings per share for the current year.

Tectonic Therapeutic Company Profile

(Get Free Report)

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in many physiological processes but have historically been difficult to address with conventional antibody-based therapies.

The company uses its proprietary GEODe platform to discover and develop antibodies and other biologics designed to modulate GPCR activity. Tectonic’s pipeline includes TX45, an investigational therapeutic intended to activate the relaxin receptor RXFP1.

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Analyst Recommendations for Tectonic Therapeutic (NASDAQ:TECX)

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