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

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $79.40.

A number of equities analysts have commented on TECX shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Zacks Research cut shares of Tectonic Therapeutic from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Stifel Nicolaus initiated coverage on shares of Tectonic Therapeutic in a research note on Monday, April 13th. They issued a "buy" rating and a $75.00 target price on the stock. Wall Street Zen lowered shares of Tectonic Therapeutic from a "sell" rating to a "strong sell" rating in a report on Saturday, April 18th. Finally, Raymond James Financial raised shares of Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of Tectonic Therapeutic by 726.4% in the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company's stock worth $4,214,000 after purchasing an additional 209,145 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Tectonic Therapeutic by 331.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company's stock valued at $1,856,000 after buying an additional 80,483 shares in the last quarter. Jane Street Group LLC increased its position in Tectonic Therapeutic by 58.7% during the 1st quarter. Jane Street Group LLC now owns 47,145 shares of the company's stock valued at $835,000 after buying an additional 17,443 shares in the last quarter. Geode Capital Management LLC raised its stake in Tectonic Therapeutic by 242.5% during the second quarter. Geode Capital Management LLC now owns 272,257 shares of the company's stock valued at $5,411,000 after buying an additional 192,770 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Tectonic Therapeutic by 483.6% during the second quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company's stock valued at $130,000 after buying an additional 5,426 shares during the last quarter. Institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Trading Up 2.2%

Shares of NASDAQ:TECX opened at $30.22 on Friday. The stock's 50-day moving average price is $31.24 and its 200-day moving average price is $28.47. Tectonic Therapeutic has a 12-month low of $14.39 and a 12-month high of $39.53. The stock has a market capitalization of $570.25 million, a P/E ratio of -6.78 and a beta of 3.28.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, beating analysts' consensus estimates of ($1.35) by $0.17. As a group, research analysts predict that Tectonic Therapeutic will post -5.46 EPS 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.

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