Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Upgraded by Lifesci Capital

Tectonic Therapeutic (NASDAQ:TECX) was upgraded by Lifesci Capital to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Wells Fargo & Company initiated coverage on Tectonic Therapeutic in a report on Monday, October 20th. They issued an “overweight” rating and a $101.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. Finally, Truist Financial reduced their target price on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $22.86 on Thursday. Tectonic Therapeutic has a 1 year low of $13.70 and a 1 year high of $47.35. The firm’s 50-day moving average is $20.29 and its 200-day moving average is $19.63. The company has a market cap of $427.94 million, a P/E ratio of -5.92 and a beta of 3.71.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, November 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.03. As a group, sell-side analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Palumbo Wealth Management LLC bought a new position in Tectonic Therapeutic during the 4th quarter valued at $272,000. Aberdeen Group plc boosted its stake in Tectonic Therapeutic by 220.6% during the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock valued at $23,818,000 after buying an additional 785,648 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Tectonic Therapeutic by 451.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after acquiring an additional 3,247 shares during the period. Millennium Management LLC raised its position in Tectonic Therapeutic by 218.0% in the third quarter. Millennium Management LLC now owns 238,170 shares of the company’s stock worth $3,737,000 after acquiring an additional 163,281 shares in the last quarter. Finally, Jain Global LLC acquired a new stake in Tectonic Therapeutic in the 3rd quarter valued at about $1,122,000. Institutional investors own 62.63% of the company’s stock.

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.