Tectonic Therapeutic (NASDAQ:TECX) Stock Lifted to “Sell” by Wall Street Zen

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

Several other research analysts have also commented on the stock. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Oppenheimer restated an “outperform” rating and issued a $80.00 target price on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. 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 research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.80.

Tectonic Therapeutic Price Performance

TECX opened at $23.33 on Friday. The business’s 50-day moving average is $29.58 and its two-hundred day moving average is $30.04. Tectonic Therapeutic has a 1 year low of $15.45 and a 1 year high of $39.53. The firm has a market capitalization of $456.10 million, a PE ratio of -5.11 and a beta of 3.28.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.17. As a group, sell-side analysts expect that Tectonic Therapeutic will post -5.27 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

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

About Tectonic Therapeutic

Tectonic Therapeutic, Inc (NASDAQ: TECX) is a clinical-stage biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in numerous biological processes and are established targets for a range of therapeutic treatments, but many remain difficult to address with conventional drug-discovery approaches.

The company uses its proprietary GEODe platform to identify and develop antibodies and other biologic molecules designed to modulate GPCR activity.