Tectonic Therapeutic (NASDAQ:TECX) Upgraded by Lifesci Capital to Strong-Buy Rating

Lifesci Capital upgraded shares of Tectonic Therapeutic (NASDAQ:TECX) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Wells Fargo & Company began coverage on Tectonic Therapeutic in a research report on Monday, October 20th. They issued an “overweight” rating and a $101.00 price objective for the company. Finally, Truist Financial decreased their price objective on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Tectonic Therapeutic currently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Tectonic Therapeutic Stock Performance

Shares of TECX stock opened at $22.86 on Thursday. The stock has a market cap of $427.94 million, a price-to-earnings ratio of -5.92 and a beta of 3.71. Tectonic Therapeutic has a 52-week low of $13.70 and a 52-week high of $47.35. The firm has a fifty day moving average of $20.29 and a 200-day moving average of $19.63.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.03. On average, sell-side analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Trading of Tectonic Therapeutic

Institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC lifted its holdings in shares of Tectonic Therapeutic by 919.4% in the second quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after acquiring an additional 2,133 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Tectonic Therapeutic during the second quarter valued at $52,000. Caitong International Asset Management Co. Ltd raised its position in 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 worth $62,000 after purchasing an additional 3,247 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Tectonic Therapeutic by 26.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock worth $75,000 after acquiring an additional 791 shares during the period. Finally, Virtus Investment Advisers LLC lifted its position in shares of Tectonic Therapeutic by 18.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock worth $83,000 after purchasing an additional 649 shares during the period. Institutional investors own 62.63% of the company’s stock.

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.