Tectonic Therapeutic (NASDAQ:TECX) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Tectonic Therapeutic (NASDAQ:TECX) from a sell rating to a strong sell rating in a report issued on Saturday.

TECX has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. Lifesci Capital raised shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Thursday, February 5th. Truist Financial decreased their price target on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Stifel Nicolaus began coverage on shares of Tectonic Therapeutic in a research note on Monday, April 13th. They issued a “buy” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.57.

Tectonic Therapeutic Stock Down 0.6%

Shares of TECX stock opened at $29.51 on Friday. Tectonic Therapeutic has a 12-month low of $14.39 and a 12-month high of $36.03. The firm has a market capitalization of $554.20 million, a price-to-earnings ratio of -7.29 and a beta of 3.59. The firm has a fifty day moving average of $27.99 and a 200-day moving average of $22.29.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.08. Research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Marcella K. Ruddy sold 10,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the insider directly owned 69,747 shares of the company’s stock, valued at approximately $2,092,410. This represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Mcnamara sold 6,262 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $30.17, for a total transaction of $188,924.54. Following the completion of the transaction, the insider directly owned 55,285 shares of the company’s stock, valued at approximately $1,667,948.45. The trade was a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,561 shares of company stock valued at $597,601. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted 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 buying an additional 3,247 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Tectonic Therapeutic during the 2nd quarter worth about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Tectonic Therapeutic during the 2nd quarter worth about $119,000. Los Angeles Capital Management LLC bought a new stake in Tectonic Therapeutic during the 4th quarter worth about $134,000. Finally, AlphaCentric Advisors LLC bought a new stake in Tectonic Therapeutic during the 4th quarter worth about $135,000. 62.63% of the stock is owned by 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.