Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Tectonic Therapeutic, Inc. (NASDAQ:TECX) has received an average recommendation of "Buy" from six brokerages, with five analysts rating it as a buy and one as a strong buy.
• Currently, the average 1-year price target for Tectonic Therapeutic's stock is $80.33, significantly higher than its recent trading price around $25.40.
• The company reported an earnings per share (EPS) of ($1.07) for the last quarter, missing analysts' consensus estimate of ($0.98).

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has been given a consensus recommendation of "Buy" by the six analysts that are covering the company, MarketBeat.com 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 12 month price target among brokerages that have updated their coverage on the stock in the last year is $80.3333.

A number of research firms have weighed in on TECX. Lifesci Capital began coverage on shares of Tectonic Therapeutic in a research note on Friday, June 6th. They set an "outperform" rating and a $87.00 price target on the stock. Truist Financial began coverage on Tectonic Therapeutic in a report on Monday, July 21st. They set a "buy" rating and a $64.00 price objective for the company. Raymond James Financial began coverage on Tectonic Therapeutic in a report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 price objective for the company. Wall Street Zen cut Tectonic Therapeutic from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Mizuho lifted their price objective on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 15th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at about $1,329,000. Jane Street Group LLC bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at about $1,371,000. Ameriprise Financial Inc. bought a new position in shares of Tectonic Therapeutic in the fourth quarter valued at about $347,000. Cliffwater LLC bought a new position in shares of Tectonic Therapeutic in the first quarter valued at about $272,000. Finally, Barclays PLC raised its holdings in shares of Tectonic Therapeutic by 1,008.5% in the fourth quarter. Barclays PLC now owns 15,974 shares of the company's stock valued at $737,000 after buying an additional 14,533 shares during the last quarter. 62.63% of the stock is owned by institutional investors.

Tectonic Therapeutic Price Performance

Shares of TECX stock traded up $0.42 during trading hours on Friday, reaching $26.11. The stock had a trading volume of 16,302 shares, compared to its average volume of 261,521. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07. The firm has a 50-day simple moving average of $22.09 and a 200-day simple moving average of $22.18. The firm has a market capitalization of $488.52 million, a PE ratio of -6.46 and a beta of 3.27.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.09). On average, equities analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current 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.