Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Has Average Price Target of $69.17 According to Brokerages

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $69.17.

Several research firms have recently commented on TECX. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price target on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Wall Street Zen downgraded Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 18th. Wells Fargo & Company cut their price objective on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, October 15th. Finally, Zacks Research upgraded Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th.

Institutional Trading of Tectonic Therapeutic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Tectonic Therapeutic in the 2nd quarter valued at $29,652,000. First Light Asset Management LLC increased its stake in Tectonic Therapeutic by 23.6% in the second quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock valued at $27,525,000 after purchasing an additional 152,983 shares during the last quarter. 5AM Venture Management LLC acquired a new position in Tectonic Therapeutic in the second quarter valued at $20,853,938. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tectonic Therapeutic in the 2nd quarter valued at about $2,232,000. Finally, Sei Investments Co. grew its holdings in Tectonic Therapeutic by 141.8% in the 1st quarter. Sei Investments Co. now owns 36,870 shares of the company’s stock valued at $1,140,000 after buying an additional 21,619 shares during the period. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $20.07 on Wednesday. The firm has a market capitalization of $392.37 million, a price-to-earnings ratio of -4.39 and a beta of 3.28. Tectonic Therapeutic has a fifty-two week low of $15.52 and a fifty-two week high of $39.53. The stock’s fifty day moving average is $27.47 and its two-hundred day moving average is $29.41.

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

About Tectonic Therapeutic

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing medicines that target G protein-coupled receptors (GPCRs), a large class of cell-surface proteins involved in numerous biological processes and diseases. The company seeks to address GPCRs that have historically been difficult to target with conventional drug-discovery methods.

Tectonic Therapeutic uses its proprietary GEODe platform to identify and develop antibodies and other biologic medicines against GPCRs.