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

Key Points

• Wall Street Zen raised Tectonic Therapeutic’s rating from “strong sell” to “sell.” Despite the bearish call, analysts overall have a “Moderate Buy” consensus and an average price target of $69.17.
• Tectonic reported quarterly EPS of -$1.08, beating the consensus estimate of -$1.32 by $0.24.
• The stock opened at $20.64 and has traded between $16.77 and $39.53 over the past 12 months; institutional investors own 62.63% of shares.

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

Other research analysts have also recently issued reports about the company. Zacks Research upgraded Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. TD Cowen reissued a "buy" rating on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Wells Fargo & Company cut their price target on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Thursday, October 15th. Finally, Oppenheimer reissued an "outperform" rating and issued a $80.00 price objective on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $69.17.

Tectonic Therapeutic Stock Up 6.3%

TECX stock opened at $20.64 on Friday. Tectonic Therapeutic has a twelve month low of $16.77 and a twelve month high of $39.53. The business has a 50 day moving average of $24.29 and a 200 day moving average of $28.00. The firm has a market cap of $403.51 million, a PE ratio of -4.46 and a beta of 3.51.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($1.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.32) by $0.24. On average, research analysts expect that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

Several large investors have recently modified their holdings of TECX. Legal & General Group Plc bought a new position in Tectonic Therapeutic in the second quarter valued at approximately $34,000. Quantbot Technologies LP acquired a new position in Tectonic Therapeutic in the 2nd quarter worth $63,000. The Manufacturers Life Insurance Company bought a new stake in Tectonic Therapeutic during the 2nd quarter worth about $206,000. Velan Capital Investment Management LP acquired a new position in Tectonic Therapeutic during the second quarter valued at approximately $206,000. Finally, AlphaCentric Advisors LLC grew its stake in shares of Tectonic Therapeutic by 5.8% in the first quarter. AlphaCentric Advisors LLC now owns 6,849 shares of the company's stock valued at $212,000 after buying an additional 373 shares in 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 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.

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