Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Upgraded by UBS Group

Tectonic Therapeutic (NASDAQ:TECX) was upgraded by UBS Group to a “hold” rating in a research note issued to investors on Sunday, Zacks reports.

A number of other research firms also recently commented on TECX. TD Cowen reiterated a “buy” rating on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Wells Fargo & Company dropped their target price on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research note on Saturday. Oppenheimer restated an “outperform” rating and issued a $80.00 target price on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Finally, Zacks Research raised shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.17.

Tectonic Therapeutic Trading Down 4.7%

TECX opened at $21.31 on Friday. The company has a fifty day simple moving average of $29.32 and a 200 day simple moving average of $29.92. The firm has a market cap of $416.61 million, a price-to-earnings ratio of -4.66 and a beta of 3.28. Tectonic Therapeutic has a twelve month low of $15.45 and a twelve month high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.17. On average, analysts forecast that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Tectonic Therapeutic during the second quarter valued at $29,652,000. Baker BROS. Advisors LP increased its position in shares of Tectonic Therapeutic by 803.4% during the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after purchasing an additional 803,400 shares during the period. First Light Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the 1st quarter valued at $20,022,000. 5AM Venture Management LLC bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth $20,853,938. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth $2,232,000. Institutional investors own 62.63% of the company’s stock.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc (NASDAQ: TECX) is a clinical-stage biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in numerous biological processes and are established targets for a range of therapeutic treatments, but many remain difficult to address with conventional drug-discovery approaches.

The company uses its proprietary GEODe platform to identify and develop antibodies and other biologic molecules designed to modulate GPCR activity.