Tectonic Therapeutic (NASDAQ:TECX) Receives Consensus Rating of “Buy” from Analysts

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $82.33.

TECX has been the topic of several analyst reports. Lifesci Capital initiated coverage on shares of Tectonic Therapeutic in a research note on Friday, June 6th. They set an “outperform” rating and a $87.00 price target on the stock. Mizuho increased their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Raymond James initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday. They set an “outperform” rating and a $76.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st.

Insider Activity at Tectonic Therapeutic

In other news, Director Timothy A. Springer bought 87,500 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $17.10 per share, for a total transaction of $1,496,250.00. Following the purchase, the director now owns 4,313,558 shares of the company’s stock, valued at $73,761,841.80. This represents a 2.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have bought 100,696 shares of company stock worth $1,705,714. 38.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TECX. Jane Street Group LLC boosted its holdings in Tectonic Therapeutic by 58.7% in the 1st quarter. Jane Street Group LLC now owns 47,145 shares of the company’s stock valued at $835,000 after purchasing an additional 17,443 shares during the period. Woodline Partners LP boosted its holdings in Tectonic Therapeutic by 132.3% in the 1st quarter. Woodline Partners LP now owns 302,215 shares of the company’s stock valued at $5,352,000 after purchasing an additional 172,106 shares during the period. Goldman Sachs Group Inc. boosted its holdings in 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 purchasing an additional 80,483 shares during the period. Millennium Management LLC boosted its holdings in Tectonic Therapeutic by 726.4% in the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock valued at $4,214,000 after purchasing an additional 209,145 shares during the period. Finally, EcoR1 Capital LLC boosted its holdings in Tectonic Therapeutic by 10.1% in the 1st quarter. EcoR1 Capital LLC now owns 935,121 shares of the company’s stock valued at $16,561,000 after purchasing an additional 85,978 shares during the period. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $22.44 on Friday. The firm has a market cap of $419.02 million, a PE ratio of -3.81 and a beta of 3.25. The firm’s 50 day moving average price is $20.44 and its two-hundred day moving average price is $30.92. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. Equities analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

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.