Tectonic Therapeutic (NASDAQ:TECX) Receives $80.50 Consensus PT from Brokerages

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been given a consensus rating of “Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $80.50.

Several research firms have commented on TECX. Mizuho upped their price objective on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Lifesci Capital assumed coverage on shares of Tectonic Therapeutic in a report on Friday, June 6th. They issued an “outperform” rating and a $87.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, March 21st.

Tectonic Therapeutic Stock Up 2.8%

NASDAQ TECX opened at $25.16 on Friday. The company has a market cap of $469.81 million, a PE ratio of -4.27 and a beta of 3.25. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07. The firm’s 50-day simple moving average is $20.14 and its two-hundred day simple moving average is $31.15.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. As a group, equities research analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insider Buying and Selling

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 3,718 shares of Tectonic Therapeutic stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of $14.76 per share, for a total transaction of $54,877.68. Following the completion of the transaction, the director now directly owns 4,317,276 shares of the company’s stock, valued at approximately $63,722,993.76. The trade was a 0.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have purchased 100,696 shares of company stock worth $1,705,714. Insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EcoR1 Capital LLC grew its position in Tectonic Therapeutic by 10.1% during the first quarter. EcoR1 Capital LLC now owns 935,121 shares of the company’s stock valued at $16,561,000 after acquiring an additional 85,978 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of Tectonic Therapeutic by 37.0% during the fourth quarter. Farallon Capital Management LLC now owns 713,050 shares of the company’s stock valued at $32,922,000 after purchasing an additional 192,653 shares during the period. Paradigm Biocapital Advisors LP purchased a new stake in shares of Tectonic Therapeutic during the fourth quarter valued at approximately $22,397,000. Woodline Partners LP boosted its stake in shares of Tectonic Therapeutic by 132.3% during the first quarter. Woodline Partners LP now owns 302,215 shares of the company’s stock valued at $5,352,000 after purchasing an additional 172,106 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of Tectonic Therapeutic by 36.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 247,000 shares of the company’s stock worth $11,404,000 after purchasing an additional 66,527 shares during the last quarter. 62.63% of the stock is currently owned by institutional investors.

About Tectonic Therapeutic

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.