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

Key Points

• Analyst consensus: Moderate Buy — Eight brokerages rate Tectonic Therapeutic an average "Moderate Buy" (1 sell, 6 buy, 1 strong buy) with an average 12‑month price target of $80.57, versus the current price around $27.20, implying substantial analyst upside.
• Recent company activity: Tectonic posted a quarterly EPS of ($1.03) beating estimates, analysts forecast ~($4.86) for the year, insiders showed mixed signals (CFO bought 6,000 shares at $21.61 while another insider sold 10,000 at $30), and institutional ownership is roughly 62.6%.

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $80.5714.

A number of research analysts have recently issued reports on TECX shares. Lifesci Capital upgraded shares of Tectonic Therapeutic to a "strong-buy" rating in a report on Thursday, February 5th. Truist Financial reduced their price objective on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Tectonic Therapeutic in a report on Tuesday, April 21st. Wall Street Zen cut shares of Tectonic Therapeutic from a "sell" rating to a "strong sell" rating in a report on Saturday, April 18th. Finally, Stifel Nicolaus began coverage on shares of Tectonic Therapeutic in a report on Monday, April 13th. They set a "buy" rating and a $75.00 price target on the stock.

Tectonic Therapeutic Price Performance

Shares of NASDAQ TECX opened at $27.20 on Wednesday. The stock has a market capitalization of $512.72 million, a P/E ratio of -6.72 and a beta of 3.59. The company has a 50-day moving average price of $28.82 and a 200-day moving average price of $22.96. Tectonic Therapeutic has a 1 year low of $14.39 and a 1 year high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.11) by $0.08. As a group, equities research analysts anticipate that Tectonic Therapeutic will post -4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daniel Lochner purchased 6,000 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average cost of $21.61 per share, for a total transaction of $129,660.00. Following the completion of the acquisition, the chief financial officer owned 32,044 shares in the company, valued at $692,470.84. This trade represents a 23.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marcella K. Ruddy sold 10,000 shares of the business's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the insider owned 69,747 shares in the company, valued at approximately $2,092,410. This trade represents a 12.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 20,561 shares of company stock worth $597,601. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Tectonic Therapeutic by 451.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company's stock worth $62,000 after purchasing an additional 3,247 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Tectonic Therapeutic in the second quarter worth about $99,000. China Universal Asset Management Co. Ltd. raised its position in Tectonic Therapeutic by 83.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,880 shares of the company's stock worth $108,000 after acquiring an additional 3,130 shares during the period. AlphaQuest LLC raised its position in Tectonic Therapeutic by 208.6% in the third quarter. AlphaQuest LLC now owns 7,299 shares of the company's stock worth $115,000 after acquiring an additional 4,934 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Tectonic Therapeutic in the second quarter worth about $119,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

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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