Tectonic Therapeutic (NASDAQ:TECX) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Tectonic Therapeutic (NASDAQ:TECX) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday. Raymond James Financial raised Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th. Wall Street Zen lowered Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Finally, Stifel Nicolaus started coverage on Tectonic Therapeutic in a research report on Monday, April 13th. They set a “buy” rating and a $75.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.40.

Tectonic Therapeutic Stock Up 2.3%

Shares of TECX stock opened at $32.80 on Monday. The company’s fifty day simple moving average is $31.07 and its 200-day simple moving average is $27.68. The firm has a market cap of $618.94 million, a PE ratio of -7.35 and a beta of 3.21. Tectonic Therapeutic has a 12 month low of $14.39 and a 12 month high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, May 7th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.18). On average, equities analysts predict that Tectonic Therapeutic will post -5.46 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Marcella K. Ruddy sold 1,065 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $30.00, for a total value of $31,950.00. Following the completion of the sale, the insider directly owned 67,682 shares of the company’s stock, valued at $2,030,460. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its stake in Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after acquiring an additional 3,247 shares during the period. New York State Common Retirement Fund bought a new position in Tectonic Therapeutic during the second quarter worth $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Tectonic Therapeutic during the second quarter worth $119,000. JPMorgan Chase & Co. boosted its position in Tectonic Therapeutic by 483.6% during the second quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company’s stock worth $130,000 after purchasing an additional 5,426 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $134,000. 62.63% of the stock is owned by institutional investors and hedge funds.

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.