Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $77.80.
A number of research analysts recently issued reports on TECX shares. Wall Street Zen upgraded Tectonic Therapeutic from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Raymond James Financial upgraded Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $76.00 to $81.00 in a report on Tuesday, May 26th. Wells Fargo & Company reduced their price target on Tectonic Therapeutic from $101.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Finally, Zacks Research raised Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th.
Read Our Latest Analysis on TECX
Tectonic Therapeutic Stock Down 15.9%
Tectonic Therapeutic stock opened at $29.94 on Tuesday. Tectonic Therapeutic has a 52-week low of $14.39 and a 52-week high of $39.53. The firm has a market cap of $585.33 million, a PE ratio of -6.55 and a beta of 3.28. The company's 50 day moving average is $33.15 and its two-hundred day moving average is $30.14.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, topping the consensus estimate of ($1.35) by $0.17. On average, equities research analysts anticipate that Tectonic Therapeutic will post -5.25 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Braidwell LP increased its position in shares of Tectonic Therapeutic by 25.9% in the 4th quarter. Braidwell LP now owns 927,524 shares of the company's stock valued at $19,348,000 after purchasing an additional 190,657 shares during the last quarter. Baker BROS. Advisors LP lifted its position in shares of Tectonic Therapeutic by 803.4% during the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company's stock worth $18,845,000 after purchasing an additional 803,400 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth $29,652,000. First Light Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the first quarter worth $20,022,000. Finally, 5AM Venture Management LLC grew its stake in shares of Tectonic Therapeutic by 18.6% during the fourth quarter. 5AM Venture Management LLC now owns 606,660 shares of the company's stock worth $12,655,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 62.63% of the company's stock.
About Tectonic Therapeutic
(
Get Free Report)
Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.
Featured Stories
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.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Tectonic Therapeutic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tectonic Therapeutic wasn't on the list.
While Tectonic Therapeutic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Click the link to see our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
