Tectonic Therapeutic (NASDAQ:TECX) Coverage Initiated at Lifesci Capital

Lifesci Capital assumed coverage on shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) in a report published on Friday morning,Benzinga reports. The brokerage issued an outperform rating and a $87.00 price target on the stock.

A number of other research analysts have also issued reports on TECX. Wells Fargo & Company lowered their target price on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Mizuho lifted their price target on Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $80.50.

Tectonic Therapeutic Price Performance

Shares of TECX traded up $1.42 during trading hours on Friday, reaching $24.48. 193,131 shares of the company's stock traded hands, compared to its average volume of 173,383. The firm has a market capitalization of $457.12 million, a price-to-earnings ratio of -4.16 and a beta of 3.25. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07. The business's fifty day simple moving average is $19.84 and its two-hundred day simple moving average is $31.36.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.10) by $0.17. On average, equities research analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insiders Place Their Bets

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 3,718 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was purchased at an average cost of $14.76 per share, for a total transaction of $54,877.68. Following the transaction, the director now owns 4,317,276 shares of the company's stock, valued at $63,722,993.76. The trade was a 0.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders acquired 100,696 shares of company stock worth $1,705,714. 38.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Tectonic Therapeutic by 5,554.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock valued at $57,000 after buying an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at about $71,000. American Century Companies Inc. acquired a new stake in shares of Tectonic Therapeutic during the 1st quarter valued at about $214,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at about $218,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at about $228,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

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.