Tectonic Therapeutic (NASDAQ:TECX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tectonic Therapeutic (NASDAQ:TECX) from a strong sell rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently issued reports on the company. UBS Group began coverage on Tectonic Therapeutic in a report on Sunday, October 11th. They set a “neutral” rating and a $26.00 price target for the company. Zacks Research raised Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price objective on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. TD Cowen reissued a “buy” rating on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Finally, Wells Fargo & Company decreased their target price on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Tectonic Therapeutic Trading Up 6.1%

Tectonic Therapeutic stock opened at $21.89 on Friday. The stock has a market cap of $427.95 million, a P/E ratio of -4.73 and a beta of 3.51. The company has a fifty day simple moving average of $24.01 and a 200-day simple moving average of $28.01. Tectonic Therapeutic has a 12-month low of $16.77 and a 12-month high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, November 5th. The company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.24. As a group, sell-side analysts forecast that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Tectonic Therapeutic in the second quarter valued at $29,652,000. First Light Asset Management LLC grew its holdings in shares of Tectonic Therapeutic by 23.6% during the second quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock worth $27,525,000 after purchasing an additional 152,983 shares during the last quarter. 5AM Venture Management LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter worth about $20,853,938. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Tectonic Therapeutic during the second quarter worth about $2,232,000. Finally, Sei Investments Co. increased its position in shares of Tectonic Therapeutic by 141.8% during the first quarter. Sei Investments Co. now owns 36,870 shares of the company’s stock worth $1,140,000 after purchasing an additional 21,619 shares in the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.

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.