Tectonic Therapeutic (NASDAQ:TECX) Upgraded to “Hold” at UBS Group

UBS Group upgraded shares of Tectonic Therapeutic (NASDAQ:TECX) to a hold rating in a research note released on Sunday,Zacks reports.

Other equities analysts also recently issued research reports about the stock. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price target on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. TD Cowen restated a “buy” rating on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Wells Fargo & Company dropped their price objective on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.17.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $21.31 on Friday. The business’s 50-day simple moving average is $29.32 and its two-hundred day simple moving average is $29.92. The company has a market cap of $416.61 million, a PE ratio of -4.66 and a beta of 3.28. Tectonic Therapeutic has a fifty-two week low of $15.45 and a fifty-two week high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.17. As a group, analysts predict that Tectonic Therapeutic will post -5.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

Several institutional investors and hedge funds have recently modified their holdings of TECX. Baker BROS. Advisors LP raised its position in Tectonic Therapeutic by 803.4% during the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after acquiring an additional 803,400 shares in the last quarter. BlackRock Inc. purchased a new position in Tectonic Therapeutic during the second quarter worth approximately $29,652,000. First Light Asset Management LLC lifted its position in shares of Tectonic Therapeutic by 23.6% during the 2nd quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock valued at $27,525,000 after buying an additional 152,983 shares in the last quarter. 5AM Venture Management LLC purchased a new stake in Tectonic Therapeutic in the 2nd quarter worth $20,853,938. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tectonic Therapeutic in the 2nd quarter worth $2,232,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

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.