Tectonic Therapeutic (NASDAQ:TECX) Reaches New 1-Year High – Time to Buy?

Tectonic Therapeutic (NASDAQ:TECX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $53.41 and last traded at $52.25, with a volume of 19113 shares trading hands. The stock had previously closed at $47.56.

Wall Street Analyst Weigh In

TECX has been the subject of several research reports. Raymond James assumed coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target for the company. Leerink Partners upped their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tectonic Therapeutic presently has a consensus rating of “Buy” and an average price target of $72.25.

Tectonic Therapeutic Trading Up 6.0 %

The stock’s 50 day moving average price is $44.04. The company has a market capitalization of $743.70 million, a price-to-earnings ratio of -8.56 and a beta of 2.60.

Insider Activity

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the transaction, the director now directly owns 3,796,764 shares in the company, valued at $109,422,738.48. This represents a 1.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordwand Advisors LLC bought a new stake in shares of Tectonic Therapeutic during the 3rd quarter valued at approximately $45,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tectonic Therapeutic in the 3rd quarter valued at $233,000. Acuta Capital Partners LLC acquired a new stake in shares of Tectonic Therapeutic during the 3rd quarter valued at $415,000. Affinity Asset Advisors LLC bought a new stake in Tectonic Therapeutic during the 2nd quarter worth $961,000. Finally, Exome Asset Management LLC increased its holdings in Tectonic Therapeutic by 12.2% in the 3rd quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after purchasing an additional 3,955 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.

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.