Tectonic Therapeutic (NASDAQ:TECX) Given Average Rating of “Buy” by Brokerages

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $80.50.

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Raymond James assumed coverage on shares of Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Leerink Partners lifted their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th.

Insider Transactions at Tectonic Therapeutic

In related news, CFO Daniel Lochner bought 4,617 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the purchase, the chief financial officer now owns 4,617 shares in the company, valued at $249,964.38. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy A. Springer purchased 129,294 shares of Tectonic Therapeutic stock in a transaction dated Wednesday, February 5th. The shares were bought at an average cost of $54.14 per share, for a total transaction of $6,999,977.16. Following the transaction, the director now directly owns 4,226,058 shares of the company’s stock, valued at approximately $228,798,780.12. The trade was a 3.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the 3rd quarter worth approximately $45,000. China Universal Asset Management Co. Ltd. acquired a new position in Tectonic Therapeutic in the fourth quarter worth $144,000. Exome Asset Management LLC increased its stake in Tectonic Therapeutic by 12.2% during the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after purchasing an additional 3,955 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Tectonic Therapeutic during the fourth quarter valued at $218,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Tectonic Therapeutic during the fourth quarter worth $228,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Down 14.4 %

Shares of NASDAQ TECX opened at $36.45 on Monday. The stock has a fifty day moving average price of $45.25 and a 200 day moving average price of $34.63. Tectonic Therapeutic has a 12-month low of $13.80 and a 12-month high of $61.07. The company has a market cap of $537.64 million, a P/E ratio of -6.19 and a beta of 2.62.

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

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.