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

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $77.80.

Several equities analysts have commented on TECX shares. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Wells Fargo & Company dropped their target price on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th.

Tectonic Therapeutic Stock Performance

TECX opened at $29.94 on Tuesday. Tectonic Therapeutic has a one year low of $14.39 and a one year high of $39.53. The company has a market cap of $585.33 million, a P/E ratio of -6.55 and a beta of 3.28. The business’s 50-day simple moving average is $33.15 and its 200-day simple moving average is $30.14.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, topping the consensus estimate of ($1.35) by $0.17. As a group, analysts predict that Tectonic Therapeutic will post -5.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at about $29,652,000. Baker BROS. Advisors LP grew its stake in Tectonic Therapeutic by 803.4% during the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock worth $18,845,000 after buying an additional 803,400 shares during the last quarter. First Light Asset Management LLC acquired a new position in Tectonic Therapeutic during the first quarter worth approximately $20,022,000. 5AM Venture Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth approximately $20,853,938. Finally, Orbimed Advisors LLC purchased a new stake in Tectonic Therapeutic in the fourth quarter valued at approximately $11,986,000. 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.