Tectonic Therapeutic (NASDAQ:TECX) Lowered to “Strong Sell” Rating by Zacks Research

Tectonic Therapeutic (NASDAQ:TECX) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Friday. Stifel Nicolaus began coverage on Tectonic Therapeutic in a report on Monday, April 13th. They set a “buy” rating and a $75.00 target price on the stock. Raymond James Financial upgraded Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Finally, Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.40.

Tectonic Therapeutic Stock Performance

TECX opened at $32.80 on Monday. The company has a fifty day moving average price of $31.07 and a two-hundred day moving average price of $27.68. Tectonic Therapeutic has a 52 week low of $14.39 and a 52 week high of $39.53. The firm has a market capitalization of $618.94 million, a PE ratio of -7.35 and a beta of 3.21.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, May 7th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.18). Equities analysts forecast that Tectonic Therapeutic will post -5.46 EPS for the current year.

Insider Buying and Selling at Tectonic Therapeutic

In other news, insider Marcella K. Ruddy sold 1,065 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $30.00, for a total transaction of $31,950.00. Following the completion of the sale, the insider owned 67,682 shares of the company’s stock, valued at $2,030,460. This represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its stake in Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after purchasing an additional 3,247 shares during the period. New York State Common Retirement Fund bought a new position in Tectonic Therapeutic during the 2nd quarter worth about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at about $119,000. JPMorgan Chase & Co. lifted its holdings in shares of Tectonic Therapeutic by 483.6% in the second quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company’s stock valued at $130,000 after purchasing an additional 5,426 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $134,000. 62.63% of the stock is owned by institutional investors.

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.