Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Tectonic Therapeutic to “strong sell” from “sell,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $77.25.
• TECX opened at $27.00, well below its 50-day and 200-day moving averages of $31.85 and $30.81, respectively. The stock has traded between $14.39 and $39.53 over the past year and carries a market capitalization of approximately $527.9 million.
• The company reported a quarterly loss of $1.18 per share, beating the consensus estimate of a $1.35 loss; analysts nonetheless expect a full-year loss of approximately $5.27 per share. Institutional investors own 62.63% of the stock.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Raymond James Financial raised Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Zacks Research upgraded Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Wells Fargo & Company dropped their target price 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, Oppenheimer reissued an "outperform" rating on shares of Tectonic Therapeutic in a research report on Tuesday, September 1st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $77.25.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $27.00 on Friday. The company has a 50 day moving average price of $31.85 and a 200-day moving average price of $30.81. Tectonic Therapeutic has a fifty-two week low of $14.39 and a fifty-two week high of $39.53. The company has a market capitalization of $527.85 million, a PE ratio of -5.91 and a beta of 3.31.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) 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. On average, analysts forecast that Tectonic Therapeutic will post -5.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TECX. Legal & General Group Plc purchased a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth $34,000. Quantbot Technologies LP bought a new position in Tectonic Therapeutic in the second quarter worth about $63,000. The Manufacturers Life Insurance Company bought a new position in Tectonic Therapeutic in the second quarter worth about $206,000. Velan Capital Investment Management LP purchased a new stake in shares of Tectonic Therapeutic during the second quarter valued at about $206,000. Finally, Clearstead Advisors LLC lifted its position in shares of Tectonic Therapeutic by 333.3% during the fourth quarter. Clearstead Advisors LLC now owns 6,500 shares of the company's stock valued at $136,000 after buying an additional 5,000 shares during the last quarter. 62.63% of the stock is owned by institutional investors.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in many physiological processes but have historically been difficult to address with conventional antibody-based therapies.

The company uses its proprietary GEODe platform to discover and develop antibodies and other biologics designed to modulate GPCR activity. Tectonic's pipeline includes TX45, an investigational therapeutic intended to activate the relaxin receptor RXFP1.

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