Lifesci Capital Begins Coverage on Tectonic Therapeutic (NASDAQ:TECX)

Analysts at Lifesci Capital initiated coverage on shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) in a note issued to investors on Friday,Benzinga reports. The brokerage set an "outperform" rating and a $87.00 price target on the stock. Lifesci Capital's price objective suggests a potential upside of 274.37% from the stock's current price.

A number of other analysts have also recently commented on TECX. Mizuho increased their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Wells Fargo & Company lowered their price target on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $80.50.

Tectonic Therapeutic Trading Up 2.6%

NASDAQ TECX opened at $23.24 on Friday. The stock has a 50 day moving average of $19.71 and a 200-day moving average of $31.66. The company has a market cap of $433.94 million, a PE ratio of -3.90 and a beta of 3.25. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. As a group, sell-side analysts predict that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer purchased 3,718 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $14.76 per share, with a total value of $54,877.68. Following the completion of the purchase, the director now owns 4,317,276 shares in the company, valued at approximately $63,722,993.76. This represents a 0.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders acquired 100,696 shares of company stock worth $1,705,714. 38.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Tectonic Therapeutic by 5,554.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock worth $57,000 after purchasing an additional 1,222 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in shares of Tectonic Therapeutic during the fourth quarter valued at approximately $71,000. American Century Companies Inc. bought a new stake in shares of Tectonic Therapeutic during the first quarter valued at approximately $214,000. Charles Schwab Investment Management Inc. bought a new stake in Tectonic Therapeutic in the fourth quarter worth $218,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Tectonic Therapeutic in the 4th quarter worth $228,000. Institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Company Profile

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.

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