Tectonic Therapeutic (NASDAQ:TECX) Issues Quarterly Earnings Results

Tectonic Therapeutic (NASDAQ:TECX) issued its earnings results on Thursday. The company reported ($1.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.24, Zacks reports.

Tectonic Therapeutic Stock Down 4.3%

TECX stock traded down $0.88 during mid-day trading on Thursday, reaching $19.42. The company had a trading volume of 109,567 shares, compared to its average volume of 255,481. Tectonic Therapeutic has a one year low of $16.58 and a one year high of $39.53. The stock has a market capitalization of $379.66 million, a P/E ratio of -4.25 and a beta of 3.51. The stock’s 50-day simple moving average is $24.94 and its two-hundred day simple moving average is $27.99.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TECX shares. Wells Fargo & Company lowered their price objective on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Wall Street Zen cut shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Sunday, October 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, October 15th. TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $80.00 target price on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Moderate Buy” and an average target price of $69.17.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing medicines that target G protein-coupled receptors (GPCRs), a large class of cell-surface proteins involved in numerous biological processes and diseases. The company seeks to address GPCRs that have historically been difficult to target with conventional drug-discovery methods.

Tectonic Therapeutic uses its proprietary GEODe platform to identify and develop antibodies and other biologic medicines against GPCRs.