Tectonic Therapeutic (NASDAQ:TECX) Sees Large Volume Increase

Tectonic Therapeutic (NASDAQ:TECX) shares saw strong trading volume on Friday . 51,475 shares changed hands during trading, an increase of 112% from the previous session’s volume of 24,271 shares.The stock last traded at $17.25 and had previously closed at $16.90.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Leerink Partnrs upgraded Tectonic Therapeutic to a “strong-buy” rating in a report on Wednesday, July 24th. TD Cowen began coverage on Tectonic Therapeutic in a report on Monday, June 24th. They set a “buy” rating on the stock. SVB Leerink initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 price objective for the company. Finally, Piper Sandler assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 target price on the stock.

Tectonic Therapeutic Stock Performance

The stock has a market capitalization of $774.42 million, a PE ratio of 24.49 and a beta of 2.63.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of institutional investors have recently added to or reduced their stakes in TECX. Renaissance Technologies LLC bought a new stake in Tectonic Therapeutic in the 2nd quarter valued at $1,466,000. Affinity Asset Advisors LLC bought a new stake in Tectonic Therapeutic in the 2nd quarter valued at $961,000. Farallon Capital Management LLC bought a new stake in Tectonic Therapeutic in the 2nd quarter valued at $7,099,000. Atlas Venture Life Science Advisors LLC bought a new stake in Tectonic Therapeutic in the 2nd quarter valued at $6,233,000. Finally, Acadian Asset Management LLC bought a new stake in Tectonic Therapeutic in the 2nd quarter valued at $1,804,000. 62.63% of the stock is owned by institutional investors and hedge funds.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.