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.

A number of other equities analysts have also recently issued reports on TECX. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th. Stifel Nicolaus started coverage on Tectonic Therapeutic in a research note on Monday, April 13th. They issued a “buy” rating and a $75.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Wells Fargo & Company reduced their price target on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Zacks Research lowered Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.80.

Tectonic Therapeutic Stock Performance

Shares of Tectonic Therapeutic stock opened at $32.71 on Friday. Tectonic Therapeutic has a 52-week low of $14.39 and a 52-week high of $39.53. The stock has a market capitalization of $639.48 million, a price-to-earnings ratio of -7.16 and a beta of 3.28. The company’s 50 day moving average price is $31.31 and its 200-day moving average price is $28.66.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. As a group, equities research analysts forecast that Tectonic Therapeutic will post -5.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently modified their holdings of the stock. Braidwell LP boosted its stake in shares of Tectonic Therapeutic by 25.9% during the 4th quarter. Braidwell LP now owns 927,524 shares of the company’s stock valued at $19,348,000 after purchasing an additional 190,657 shares in the last quarter. Baker BROS. Advisors LP raised its stake in Tectonic Therapeutic by 803.4% in the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock worth $18,845,000 after buying an additional 803,400 shares in the last quarter. BlackRock Inc. purchased a new stake in Tectonic Therapeutic in the second quarter worth about $29,652,000. First Light Asset Management LLC purchased a new stake in Tectonic Therapeutic in the first quarter worth about $20,022,000. Finally, 5AM Venture Management LLC boosted its position in Tectonic Therapeutic by 18.6% during the 4th quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock valued at $12,655,000 after acquiring an additional 95,000 shares in the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.

About Tectonic Therapeutic

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.