Tectonic Therapeutic, Inc. (NASDAQ:TECX) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Tectonic Therapeutic has a consensus analyst rating of “Buy”, with seven analysts covering the stock and an average 1-year price target of $79.40.
• Recent analyst actions were mixed: Raymond James upgraded the stock to strong-buy with an $81 target, while Weiss Ratings and Wall Street Zen maintained or worsened bearish views; Stifel Nicolaus also initiated coverage with a buy rating and $75 target.
• The company recently reported Q1 EPS of -$1.34, missing estimates, while the stock traded at $34.37 with a 52-week range of $14.39 to $39.53.

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $79.40.

A number of equities analysts have recently issued reports on TECX shares. Raymond James Financial upgraded shares of Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $76.00 to $81.00 in a research report on Tuesday, May 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Tectonic Therapeutic from a "sell" rating to a "strong sell" rating in a research note on Saturday, April 18th. Finally, Stifel Nicolaus started coverage on shares of Tectonic Therapeutic in a research report on Monday, April 13th. They set a "buy" rating and a $75.00 price objective on the stock.

Insider Activity at Tectonic Therapeutic

In other news, insider Marcella K. Ruddy sold 1,065 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $30.00, for a total transaction of $31,950.00. Following the completion of the sale, the insider owned 67,682 shares in the company, valued at approximately $2,030,460. This represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 39.80% of the company's stock.

Institutional Trading of Tectonic Therapeutic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Group plc lifted its position in Tectonic Therapeutic by 220.6% during the 4th quarter. Aberdeen Group plc now owns 1,141,824 shares of the company's stock worth $23,818,000 after acquiring an additional 785,648 shares during the period. Braidwell LP increased its holdings in shares of Tectonic Therapeutic by 25.9% in the fourth quarter. Braidwell LP now owns 927,524 shares of the company's stock valued at $19,348,000 after purchasing an additional 190,657 shares during the period. Baker BROS. Advisors LP increased its holdings in shares of Tectonic Therapeutic by 803.4% in the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company's stock valued at $18,845,000 after purchasing an additional 803,400 shares during the period. First Light Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic during the first quarter worth approximately $20,022,000. Finally, 5AM Venture Management LLC raised its stake in shares of Tectonic Therapeutic by 18.6% during the fourth quarter. 5AM Venture Management LLC now owns 606,660 shares of the company's stock worth $12,655,000 after purchasing an additional 95,000 shares during the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.

Tectonic Therapeutic Price Performance

NASDAQ:TECX opened at $34.37 on Monday. The stock's 50 day moving average price is $30.43 and its 200 day moving average price is $27.11. The company has a market capitalization of $648.53 million, a PE ratio of -7.71 and a beta of 3.21. Tectonic Therapeutic has a 52-week low of $14.39 and a 52-week high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.18). As a group, sell-side analysts anticipate that Tectonic Therapeutic will post -5.46 EPS for the current fiscal year.

About Tectonic Therapeutic

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.

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.