Tectonic Therapeutic (NASDAQ:TECX) Price Target Raised to $112.00

Tectonic Therapeutic (NASDAQ:TECX) had its price objective boosted by equities researchers at Wells Fargo & Company from $79.00 to $112.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 86.05% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Raymond James initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective for the company. Leerink Partners raised their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $80.50.

Tectonic Therapeutic Price Performance

NASDAQ TECX traded up $5.36 on Friday, hitting $60.20. The company had a trading volume of 106,985 shares, compared to its average volume of 472,876. The company’s fifty day moving average price is $45.52 and its 200-day moving average price is $33.15. The company has a market capitalization of $887.95 million, a PE ratio of -10.06 and a beta of 2.63. Tectonic Therapeutic has a 12-month low of $13.80 and a 12-month high of $59.50.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). On average, sell-side analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

Several institutional investors have recently made changes to their positions in the stock. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the third quarter worth $45,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic during the fourth quarter worth $144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tectonic Therapeutic in the 3rd quarter worth about $233,000. Acuta Capital Partners LLC acquired a new position in shares of Tectonic Therapeutic during the 3rd quarter valued at about $415,000. Finally, Clarius Group LLC acquired a new stake in shares of Tectonic Therapeutic in the fourth quarter worth approximately $468,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

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.