Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives Average Recommendation of “Buy” from Brokerages

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been assigned a consensus rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $79.40.

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Tectonic Therapeutic in a research note on Monday, April 13th. They set a “buy” rating and a $75.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Finally, Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th.

Insider Buying and Selling at Tectonic Therapeutic

In other news, insider Marcella K. Ruddy sold 1,065 shares of Tectonic Therapeutic stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $30.00, for a total transaction of $31,950.00. Following the sale, the insider directly owned 67,682 shares in the company, valued at approximately $2,030,460. The trade was a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 39.80% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Tectonic Therapeutic by 451.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after acquiring an additional 3,247 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth about $119,000. Los Angeles Capital Management LLC bought a new stake in shares of Tectonic Therapeutic in the 4th quarter worth about $134,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Tectonic Therapeutic in the 4th quarter worth about $135,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Trading Up 0.4%

Shares of Tectonic Therapeutic stock opened at $30.72 on Thursday. The company’s fifty day simple moving average is $28.98 and its 200-day simple moving average is $25.82. The company has a market cap of $579.69 million, a price-to-earnings ratio of -6.89 and a beta of 3.19. Tectonic Therapeutic has a 1 year low of $14.39 and a 1 year high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.18). As a group, research analysts forecast that Tectonic Therapeutic will post -5.46 earnings per share 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.