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

Key Points

• Tectonic Therapeutic, Inc. (NASDAQ:TECX) has received an average rating of "Buy" from analysts, with five firms giving a buy rating and one a strong buy rating.
• The average 1-year target price for Tectonic Therapeutic stands at $80.33, with recent ratings ranging from $64.00 to $87.00 by different brokerages.
• As of the latest report, Tectonic Therapeutic's stock is priced at $22.32, reflecting a market cap of $416.71 million and significant institutional interest, with 62.63% ownership by institutional investors.

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has been given a consensus rating of "Buy" by the six analysts that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $80.33.

TECX has been the subject of several research reports. Mizuho lifted their target price on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen lowered shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Raymond James Financial started coverage on Tectonic Therapeutic in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price target for the company. Lifesci Capital initiated coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They issued an "outperform" rating and a $87.00 target price on the stock. Finally, Truist Financial initiated coverage on shares of Tectonic Therapeutic in a research note on Monday, July 21st. They issued a "buy" rating and a $64.00 price target on the stock.

Tectonic Therapeutic Stock Performance

Shares of Tectonic Therapeutic stock traded down $0.37 during midday trading on Monday, reaching $22.15. 96,218 shares of the company's stock traded hands, compared to its average volume of 268,320. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07. The company's 50 day simple moving average is $21.77 and its 200 day simple moving average is $24.75. The company has a market cap of $413.47 million, a price-to-earnings ratio of -3.03 and a beta of 3.17.

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

Institutional Trading of Tectonic Therapeutic

Several institutional investors have recently made changes to their positions in the company. Walleye Capital LLC increased its position in shares of Tectonic Therapeutic by 0.8% during the fourth quarter. Walleye Capital LLC now owns 73,517 shares of the company's stock valued at $3,394,000 after acquiring an additional 555 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tectonic Therapeutic by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 77,584 shares of the company's stock valued at $3,584,000 after purchasing an additional 705 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 purchasing an additional 1,222 shares during the period. Virtus ETF Advisers LLC purchased a new stake in Tectonic Therapeutic during the 4th quarter worth about $71,000. Finally, AlphaQuest LLC boosted its stake in Tectonic Therapeutic by 919.4% in the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company's stock worth $47,000 after purchasing an additional 2,133 shares during the period. Institutional investors own 62.63% of the company's stock.

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.