Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives $77.80 Average PT from Brokerages

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $77.25.

A number of equities research analysts have weighed in on the stock. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Oppenheimer reissued an “outperform” rating on shares of Tectonic Therapeutic in a research report on Tuesday, September 1st.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in Tectonic Therapeutic during the 2nd quarter valued at about $34,000. Quantbot Technologies LP acquired a new stake in shares of Tectonic Therapeutic during the second quarter worth about $63,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after purchasing an additional 3,247 shares during the period. California State Teachers Retirement System boosted its stake in shares of Tectonic Therapeutic by 714.6% in the second quarter. California State Teachers Retirement System now owns 4,847 shares of the company’s stock valued at $167,000 after purchasing an additional 4,252 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of Tectonic Therapeutic in the second quarter valued at approximately $99,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Performance

NASDAQ TECX opened at $30.75 on Tuesday. The stock has a market cap of $601.16 million, a PE ratio of -6.73 and a beta of 3.31. Tectonic Therapeutic has a twelve month low of $14.39 and a twelve month high of $39.53. The stock has a fifty day simple moving average of $33.07 and a 200-day simple moving average of $30.44.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.17. Research analysts predict that Tectonic Therapeutic will post -5.25 EPS for the current year.

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.