Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Has Average Price Target of $77.25 According to Analysts

Key Points

• Analysts have a Moderate Buy consensus on Tectonic Therapeutic, with eight firms assigning an average 12-month price target of $77.25. Ratings include four buys, two strong buys, one hold and one sell.
• TECX opened at $23.67, well below its average analyst target, with a market capitalization of approximately $462.75 million. The stock has traded between $14.60 and $39.53 over the past year and carries a high beta of 3.31.
• The company reported quarterly EPS of -$1.18, beating the consensus estimate of -$1.35. Institutional investors own 62.63% of the stock, with BlackRock and other major investors recently establishing or increasing positions.

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $77.25.

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Tectonic Therapeutic from $101.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Oppenheimer reissued an "outperform" rating on shares of Tectonic Therapeutic in a report on Tuesday, September 1st. Wall Street Zen cut shares of Tectonic Therapeutic from a "sell" rating to a "strong sell" rating in a research report on Saturday, September 19th. Zacks Research raised shares of Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th.

Tectonic Therapeutic Price Performance

NASDAQ TECX opened at $23.67 on Friday. The stock's 50 day simple moving average is $31.07 and its 200 day simple moving average is $30.72. Tectonic Therapeutic has a one year low of $14.60 and a one year high of $39.53. The firm has a market cap of $462.75 million, a PE ratio of -5.18 and a beta of 3.31.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.35) by $0.17. As a group, equities analysts expect that Tectonic Therapeutic will post -5.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TECX. BlackRock Inc. bought a new position in Tectonic Therapeutic in the second quarter valued at about $29,652,000. First Light Asset Management LLC increased its position in Tectonic Therapeutic by 23.6% in the second 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 during the period. 5AM Venture Management LLC bought a new stake in Tectonic Therapeutic during the 2nd quarter worth about $20,853,938. Baker BROS. Advisors LP raised its holdings in 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. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tectonic Therapeutic during the 2nd quarter valued at about $2,232,000. Institutional investors and hedge funds own 62.63% of the company's stock.

Tectonic Therapeutic Company Profile

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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