Tectonic Therapeutic, Inc. (NASDAQ:TECX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $79.40.

TECX has been the topic of several recent analyst reports. Zacks Research downgraded Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Stifel Nicolaus initiated coverage on Tectonic Therapeutic in a report on Monday, April 13th. They set a “buy” rating and a $75.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Finally, Raymond James Financial upgraded Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $76.00 to $81.00 in a report on Tuesday, May 26th.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ TECX opened at $30.22 on Friday. The firm’s 50 day moving average price is $31.24 and its 200-day moving average price is $28.47. Tectonic Therapeutic has a 52-week low of $14.39 and a 52-week high of $39.53. The company has a market cap of $570.25 million, a PE ratio of -6.78 and a beta of 3.28.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, beating the consensus estimate of ($1.35) by $0.17. On average, analysts forecast that Tectonic Therapeutic will post -5.46 earnings per share for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in shares of Tectonic Therapeutic in the second quarter worth approximately $868,000. GSA Capital Partners LLP bought a new stake in Tectonic Therapeutic in the 2nd quarter worth approximately $284,000. Bank of America Corp DE grew its position in Tectonic Therapeutic by 24.3% in the 1st quarter. Bank of America Corp DE now owns 11,466 shares of the company’s stock worth $354,000 after purchasing an additional 2,241 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Tectonic Therapeutic during the 1st quarter valued at $431,000. Finally, First Light Asset Management LLC purchased a new stake in Tectonic Therapeutic during the 1st quarter valued at $20,022,000. Hedge funds and other 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.