Tectonic Therapeutic (NASDAQ:TECX) Stock Price Up 5.4% – Should You Buy?

Tectonic Therapeutic, Inc. (NASDAQ:TECX) rose 5.4% on Tuesday . The company traded as high as $31.50 and last traded at $31.57. Approximately 134,056 shares changed hands during trading, a decline of 50% from the average daily volume of 267,838 shares. The stock had previously closed at $29.94.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TECX. Zacks Research raised shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Wells Fargo & Company lowered their price objective on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Oppenheimer reissued an “outperform” rating on shares of Tectonic Therapeutic in a research note on Tuesday. Raymond James Financial upgraded Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.25.

Tectonic Therapeutic Trading Up 0.1%

The stock’s fifty day simple moving average is $33.16 and its 200-day simple moving average is $30.26. The stock has a market capitalization of $594.42 million, a PE ratio of -6.65 and a beta of 3.31.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Tectonic Therapeutic during the second quarter valued at $29,652,000. GSA Capital Partners LLP purchased a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at approximately $1,320,000. First Light Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic during the 1st quarter valued at approximately $20,022,000. 5AM Venture Management LLC bought a new position in Tectonic Therapeutic in the 2nd quarter worth approximately $20,853,938. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic in the 2nd quarter worth approximately $2,232,000. 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.