Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Has Consensus Price Target of $69.17 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Tectonic Therapeutic, with five buy, two strong-buy, two hold, and one sell ratings; the average 12-month price target is $69.17.
• Shares traded at $21.14, below their 50-day average of $23.30 and 200-day average of $28.05; the stock’s 12-month range is $16.77–$39.53.
• The company reported quarterly EPS of -$1.08, beating analyst expectations of -$1.32. Institutional investors own 62.63% of the stock.

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has earned an average rating of "Moderate Buy" from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $69.17.

Several equities analysts have recently issued reports on TECX shares. Zacks Research raised shares of Tectonic Therapeutic from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. TD Cowen reiterated a "buy" rating on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Oppenheimer reissued an "outperform" rating and issued a $80.00 price objective on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Tectonic Therapeutic in a report on Thursday, October 15th. Finally, Wall Street Zen raised Tectonic Therapeutic from a "strong sell" rating to a "sell" rating in a research report on Saturday, November 7th.

Hedge Funds Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Tectonic Therapeutic during the second quarter worth $29,652,000. First Light Asset Management LLC grew its holdings in shares of Tectonic Therapeutic by 23.6% during the second quarter. First Light Asset Management LLC now owns 800,726 shares of the company's stock valued at $27,525,000 after buying an additional 152,983 shares during the last quarter. 5AM Venture Management LLC bought a new stake in shares of Tectonic Therapeutic during the second quarter worth about $20,853,938. Marshall Wace LLP increased its position in shares of Tectonic Therapeutic by 159.4% during the third quarter. Marshall Wace LLP now owns 446,511 shares of the company's stock worth $10,399,000 after acquiring an additional 274,410 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tectonic Therapeutic during the second quarter worth about $2,232,000. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Price Performance

Tectonic Therapeutic stock traded up $0.10 during mid-day trading on Friday, reaching $21.14. 300,638 shares of the company were exchanged, compared to its average volume of 177,765. The company has a fifty day simple moving average of $23.30 and a 200-day simple moving average of $28.05. Tectonic Therapeutic has a 12 month low of $16.77 and a 12 month high of $39.53. The firm has a market cap of $421.74 million, a PE ratio of -4.57 and a beta of 3.51.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($1.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.32) by $0.24. Sell-side analysts anticipate that Tectonic Therapeutic will post -4.89 earnings per share for the current year.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic is a biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs), a broad class of proteins involved in many biological processes. Its GEODe platform is designed to identify and engineer antibodies and other biologics that act on GPCRs. The company's lead clinical program, TX000045, is an antibody designed to activate the apelin receptor. Tectonic is developing it for pulmonary arterial hypertension, a serious condition affecting the blood vessels in the lungs.

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