Tectonic Therapeutic, Inc. (TECX) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts hold a Moderate Buy consensus on Tectonic Therapeutic, with five buys, two strong buys, two holds and one sell. The average 12-month price target is $69.17, though ratings and targets vary widely—from UBS’s $26 neutral target to Oppenheimer’s $80 outperform target.
• TECX opened at $21.83, well below its 50-day and 200-day moving averages of $28.33 and $29.61, respectively. The company reported a quarterly loss of $1.18 per share, beating expectations of a $1.35 loss, while analysts forecast a full-year loss of $5.27 per share.
• Institutional investors own 62.63% of the stock, with several funds recently increasing or initiating positions. Tectonic is a clinical-stage biotechnology company developing biologic medicines targeting difficult-to-drug G protein-coupled receptors through its GEODe platform.

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $69.17.

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Thursday, October 15th. UBS Group assumed coverage on shares of Tectonic Therapeutic in a report on Sunday, October 11th. They set a "neutral" rating and a $26.00 price target for the company. Oppenheimer reaffirmed an "outperform" rating and issued a $80.00 price target on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Wells Fargo & Company dropped their price objective on Tectonic Therapeutic from $101.00 to $93.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen lowered Tectonic Therapeutic from a "sell" rating to a "strong sell" rating in a research note on Sunday.

Tectonic Therapeutic Trading Up 3.2%

Shares of Tectonic Therapeutic stock opened at $21.83 on Wednesday. The firm has a fifty day simple moving average of $28.33 and a 200-day simple moving average of $29.61. The stock has a market capitalization of $426.78 million, a price-to-earnings ratio of -4.78 and a beta of 3.28. Tectonic Therapeutic has a 1-year low of $15.52 and a 1-year high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted 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. As a group, research analysts predict that Tectonic Therapeutic will post -5.27 earnings per share for the current year.

Institutional Trading of Tectonic Therapeutic

Several hedge funds have recently added to or reduced their stakes in TECX. AlphaCentric Advisors LLC increased its position in Tectonic Therapeutic by 5.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 6,849 shares of the company's stock worth $212,000 after buying an additional 373 shares during the period. Legal & General Group Plc acquired a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $34,000. Quantbot Technologies LP acquired a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $63,000. Wellington Management Group LLP boosted its holdings in Tectonic Therapeutic by 7.5% in the 2nd quarter. Wellington Management Group LLP now owns 31,432 shares of the company's stock valued at $1,080,000 after purchasing an additional 2,192 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Tectonic Therapeutic by 24.3% in the first quarter. Bank of America Corp DE now owns 11,466 shares of the company's stock valued at $354,000 after buying an additional 2,241 shares during the period. Institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Company Profile

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.