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

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been assigned a consensus recommendation of “Buy” from the six analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $83.60.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Raymond James Financial assumed coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 11th. They set an “outperform” rating and a $76.00 price objective for the company. Wall Street Zen cut shares of Tectonic Therapeutic from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Mizuho lifted their price objective on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Finally, Lifesci Capital assumed coverage on shares of Tectonic Therapeutic in a research report on Friday, June 6th. They set an “outperform” rating and a $87.00 price objective for the company.

Tectonic Therapeutic Stock Up 4.6%

NASDAQ:TECX opened at $21.09 on Thursday. The company has a fifty day simple moving average of $21.30 and a two-hundred day simple moving average of $28.11. The company has a market cap of $393.75 million, a price-to-earnings ratio of -2.89 and a beta of 3.17. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. On average, analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insiders Place Their Bets

In related news, Director Timothy A. Springer purchased 9,478 shares of Tectonic Therapeutic stock in a transaction that occurred on Friday, April 11th. The stock was purchased at an average cost of $16.31 per share, with a total value of $154,586.18. Following the completion of the transaction, the director directly owned 4,334,846 shares in the company, valued at approximately $70,701,338.26. The trade was a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 100,696 shares of company stock valued at $1,705,714 over the last three months. 38.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Tectonic Therapeutic by 5,554.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock valued at $57,000 after acquiring an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in Tectonic Therapeutic in the fourth quarter valued at $71,000. American Century Companies Inc. purchased a new stake in Tectonic Therapeutic in the first quarter valued at $214,000. Charles Schwab Investment Management Inc. purchased a new stake in Tectonic Therapeutic in the fourth quarter valued at $218,000. Finally, Raymond James Financial Inc. acquired a new position in Tectonic Therapeutic in the fourth quarter valued at $228,000. 62.63% of the stock is owned by hedge funds and other institutional investors.

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.