Tectonic Therapeutic, Inc. (NASDAQ:TECX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have been given an average rating of “Buy” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $79.40.

A number of equities analysts have weighed in on the company. Raymond James Financial raised Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Stifel Nicolaus assumed coverage on Tectonic Therapeutic in a research report on Monday, April 13th. They issued a “buy” rating and a $75.00 target price for the company. Wall Street Zen lowered Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st.

Tectonic Therapeutic Stock Up 1.1%

NASDAQ:TECX opened at $30.34 on Thursday. The stock has a market cap of $572.52 million, a P/E ratio of -6.80 and a beta of 3.19. The firm’s fifty day simple moving average is $28.97 and its 200 day simple moving average is $25.68. Tectonic Therapeutic has a twelve month low of $14.39 and a twelve month high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, May 7th. The company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). On average, analysts expect that Tectonic Therapeutic will post -5.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Marcella K. Ruddy sold 1,065 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.00, for a total value of $31,950.00. Following the transaction, the insider directly owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. This trade represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in shares of Tectonic Therapeutic by 726.4% during the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock valued at $4,214,000 after acquiring an additional 209,145 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Tectonic Therapeutic by 331.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company’s stock valued at $1,856,000 after acquiring an additional 80,483 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Tectonic Therapeutic by 58.7% during the 1st quarter. Jane Street Group LLC now owns 47,145 shares of the company’s stock valued at $835,000 after acquiring an additional 17,443 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tectonic Therapeutic by 242.5% during the 2nd quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock valued at $5,411,000 after acquiring an additional 192,770 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Tectonic Therapeutic by 483.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company’s stock valued at $130,000 after acquiring an additional 5,426 shares during the last quarter. 62.63% of the stock is currently 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.