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

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $81.50.

Several brokerages recently weighed in on TECX. Truist Financial cut their price objective on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Lifesci Capital upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd.

Insider Transactions at Tectonic Therapeutic

In other news, CFO Daniel Lochner purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average cost of $21.61 per share, for a total transaction of $129,660.00. Following the transaction, the chief financial officer directly owned 32,044 shares of the company’s stock, valued at approximately $692,470.84. The trade was a 23.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Large investors have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in Tectonic Therapeutic by 726.4% in the first quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock worth $4,214,000 after purchasing an additional 209,145 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Tectonic Therapeutic by 331.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company’s stock valued at $1,856,000 after buying an additional 80,483 shares in the last quarter. Jane Street Group LLC raised its stake in Tectonic Therapeutic by 58.7% during the 1st quarter. Jane Street Group LLC now owns 47,145 shares of the company’s stock worth $835,000 after buying an additional 17,443 shares during the period. AlphaQuest LLC lifted its holdings in Tectonic Therapeutic by 919.4% during the second quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after acquiring an additional 2,133 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tectonic Therapeutic by 3.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,708 shares of the company’s stock worth $710,000 after acquiring an additional 1,063 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Down 5.3%

Shares of NASDAQ TECX opened at $21.09 on Friday. Tectonic Therapeutic has a 1 year low of $13.70 and a 1 year high of $35.44. The firm’s 50-day moving average is $20.67 and its 200-day moving average is $19.62. The firm has a market capitalization of $394.80 million, a PE ratio of -5.46 and a beta of 3.71.

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.