Tectonic Therapeutic (NASDAQ:TECX – Get Free Report)’s share price dropped 2.9% on Tuesday . The stock traded as low as $17.93 and last traded at $17.93. Approximately 2,757 shares traded hands during trading, a decline of 89% from the average daily volume of 24,410 shares. The stock had previously closed at $18.47.
Analyst Upgrades and Downgrades
Several research firms recently commented on TECX. Leerink Partnrs raised Tectonic Therapeutic to a “strong-buy” rating in a report on Wednesday, July 24th. Leerink Partners initiated coverage on Tectonic Therapeutic in a research note on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 target price for the company. TD Cowen started coverage on shares of Tectonic Therapeutic in a report on Monday, June 24th. They issued a “buy” rating for the company. Piper Sandler initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 26th. They set an “overweight” rating and a $76.00 target price on the stock. Finally, Wells Fargo & Company started coverage on shares of Tectonic Therapeutic in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.00.
Read Our Latest Report on Tectonic Therapeutic
Tectonic Therapeutic Stock Up 2.3 %
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing the consensus estimate of ($1.96) by ($1.85). Equities research analysts expect that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.
Institutional Investors Weigh In On Tectonic Therapeutic
Several large investors have recently added to or reduced their stakes in the business. Affinity Asset Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the second quarter worth $961,000. Renaissance Technologies LLC acquired a new position in Tectonic Therapeutic during the 2nd quarter worth $1,466,000. Acadian Asset Management LLC purchased a new stake in Tectonic Therapeutic during the 2nd quarter worth about $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new stake in Tectonic Therapeutic in the 2nd quarter valued at about $6,233,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth about $7,099,000. 62.63% of the stock is owned by hedge funds and other institutional investors.
Tectonic Therapeutic Company Profile
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.
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