Tectonic Therapeutic (NASDAQ:TECX) Issues Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Tectonic Therapeutic (NASDAQ:TECX) posted its quarterly earnings data on Thursday. The company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.24, Zacks reports.

Tectonic Therapeutic Stock Down 4.3%

NASDAQ:TECX traded down $0.88 on Thursday, reaching $19.42. The company’s stock had a trading volume of 109,567 shares, compared to its average volume of 174,046. Tectonic Therapeutic has a 12-month low of $16.58 and a 12-month high of $39.53. The firm has a market cap of $379.66 million, a price-to-earnings ratio of -4.25 and a beta of 3.51. The stock has a 50 day moving average price of $24.61 and a 200 day moving average price of $27.99.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TECX. TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Zacks Research raised shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, October 15th. Wall Street Zen lowered shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Tectonic Therapeutic has an average rating of “Moderate Buy” and a consensus target price of $69.17.

Tectonic Therapeutic Company Profile

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.