Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Upgraded by UBS Group

Key Points

• UBS Group upgraded Tectonic Therapeutic to a “hold” rating, while analyst sentiment remains mixed. MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $69.17.
• TECX opened at $21.31, with a market capitalization of approximately $416.6 million and a one-year trading range of $15.45 to $39.53. The company reported a quarterly loss of $1.18 per share, beating estimates by $0.17.
• Institutional investors own 62.63% of the company, with several funds increasing or initiating positions during the second quarter. Tectonic is developing biologic medicines targeting difficult-to-address G protein-coupled receptors using its GEODe platform.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) was upgraded by analysts at UBS Group to a "hold" rating in a research report issued to clients and investors on Sunday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Tectonic Therapeutic in a report on Friday, July 17th. TD Cowen reissued a "buy" rating on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Oppenheimer reaffirmed an "outperform" rating and issued a $80.00 price objective on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Zacks Research raised shares of Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Tectonic Therapeutic from a "strong sell" rating to a "sell" rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.17.

Tectonic Therapeutic Stock Performance

NASDAQ TECX opened at $21.31 on Friday. The company has a market capitalization of $416.61 million, a P/E ratio of -4.66 and a beta of 3.28. Tectonic Therapeutic has a one year low of $15.45 and a one year high of $39.53. The stock has a 50 day moving average price of $29.32 and a 200-day moving average price of $29.92.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted 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, equities analysts predict that Tectonic Therapeutic will post -5.27 EPS for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC lifted its stake in Tectonic Therapeutic by 23.6% in the 2nd quarter. First Light Asset Management LLC now owns 800,726 shares of the company's stock worth $27,525,000 after purchasing an additional 152,983 shares in the last quarter. Velan Capital Investment Management LP purchased a new position in Tectonic Therapeutic in the second quarter worth approximately $206,000. Wellington Management Group LLP grew its holdings in shares of Tectonic Therapeutic by 7.5% during the 2nd quarter. Wellington Management Group LLP now owns 31,432 shares of the company's stock worth $1,080,000 after purchasing an additional 2,192 shares during the period. Bank of America Corp DE acquired a new stake in shares of Tectonic Therapeutic during the second quarter valued at about $380,000. Finally, 5AM Venture Management LLC purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $20,853,938. 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.

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