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

Key Points

• Tectonic Therapeutic, Inc. has received a consensus recommendation of "Buy" from seven analysts, with six giving a buy rating and one a strong buy rating.
• The average price objective for Tectonic Therapeutic's stock is approximately $80.29, significantly higher than its current trading price of $16.59.
• Institutional investors and hedge funds own about 62.63% of Tectonic Therapeutic's shares, with several firms notably increasing their stakes in recent quarters.

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has been given a consensus recommendation of "Buy" by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $80.2857.

A number of equities research analysts have recently weighed in on TECX shares. Truist Financial started coverage on Tectonic Therapeutic in a report on Monday, July 21st. They set a "buy" rating and a $64.00 target price for the company. Lifesci Capital started coverage on Tectonic Therapeutic in a report on Friday, June 6th. They set an "outperform" rating and a $87.00 target price for the company. Raymond James Financial started coverage on Tectonic Therapeutic in a report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 target price for the company. Oppenheimer started coverage on Tectonic Therapeutic in a report on Wednesday, September 3rd. They set an "outperform" rating and a $80.00 target price for the company. Finally, Wall Street Zen downgraded Tectonic Therapeutic from a "hold" rating to a "sell" rating in a report on Saturday, July 26th.

Tectonic Therapeutic Price Performance

Shares of Tectonic Therapeutic stock opened at $16.59 on Tuesday. The business has a fifty day simple moving average of $21.88 and a two-hundred day simple moving average of $21.04. Tectonic Therapeutic has a 1 year low of $13.70 and a 1 year high of $61.07. The company has a market capitalization of $310.40 million, a price-to-earnings ratio of -4.11 and a beta of 3.42.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.09). As a group, equities analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EcoR1 Capital LLC raised its stake in Tectonic Therapeutic by 10.1% in the first quarter. EcoR1 Capital LLC now owns 935,121 shares of the company's stock valued at $16,561,000 after purchasing an additional 85,978 shares in the last quarter. Woodline Partners LP raised its stake in Tectonic Therapeutic by 132.3% in the first quarter. Woodline Partners LP now owns 302,215 shares of the company's stock valued at $5,352,000 after purchasing an additional 172,106 shares in the last quarter. Geode Capital Management LLC raised its stake in Tectonic Therapeutic by 242.5% in the second quarter. Geode Capital Management LLC now owns 272,257 shares of the company's stock valued at $5,411,000 after purchasing an additional 192,770 shares in the last quarter. Millennium Management LLC raised its stake in Tectonic Therapeutic by 726.4% in the first quarter. Millennium Management LLC now owns 237,938 shares of the company's stock valued at $4,214,000 after purchasing an additional 209,145 shares in the last quarter. Finally, TFG Asset Management GP Ltd raised its stake in Tectonic Therapeutic by 22.0% in the second quarter. TFG Asset Management GP Ltd now owns 228,832 shares of the company's stock valued at $4,547,000 after purchasing an additional 41,332 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company's stock.

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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