Tectonic Therapeutic (NASDAQ:TECX) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Tectonic Therapeutic from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with a $77.80 target price.
• TECX shares opened at $23.33, with a market capitalization of approximately $456 million; the stock has traded between $15.45 and $39.53 over the past year.
• The company reported quarterly EPS of -$1.18, beating the consensus estimate of -$1.35. Institutional investors own 62.63% of the shares, with several major funds adding or initiating positions.

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

Several other equities research analysts also recently commented on the stock. Zacks Research raised shares of Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Wells Fargo & Company decreased 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. TD Cowen restated a "buy" rating on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Oppenheimer reaffirmed an "outperform" rating and issued a $80.00 price target on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.80.

Tectonic Therapeutic Stock Up 2.5%

Shares of TECX opened at $23.33 on Friday. The firm has a market capitalization of $456.10 million, a PE ratio of -5.11 and a beta of 3.28. Tectonic Therapeutic has a 12-month low of $15.45 and a 12-month high of $39.53. The stock's fifty day simple moving average is $29.58 and its 200-day simple moving average is $30.04.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.35) by $0.17. Analysts anticipate that Tectonic Therapeutic will post -5.27 EPS for the current year.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of institutional investors have recently bought and sold shares of TECX. BlackRock Inc. acquired a new stake in Tectonic Therapeutic during the 2nd quarter valued at $29,652,000. First Light Asset Management LLC increased its holdings in shares of 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth about $2,232,000. 5AM Venture Management LLC bought a new stake in shares of Tectonic Therapeutic during the second quarter worth approximately $20,853,938. Finally, Sei Investments Co. boosted its holdings in shares of Tectonic Therapeutic by 141.8% during the first quarter. Sei Investments Co. now owns 36,870 shares of the company's stock worth $1,140,000 after acquiring an additional 21,619 shares during the period. Institutional investors and hedge funds own 62.63% of the company's stock.

About Tectonic Therapeutic

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.