Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives Average 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 earned a consensus rating of "Buy" from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $80.2857.

TECX has been the topic of several analyst reports. Oppenheimer began coverage on shares of Tectonic Therapeutic in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $80.00 target price on the stock. Lifesci Capital assumed coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They set an "outperform" rating and a $87.00 price target for the company. Wall Street Zen downgraded Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Raymond James Financial started coverage on Tectonic Therapeutic in a research report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 price target on the stock. Finally, Truist Financial assumed coverage on shares of Tectonic Therapeutic in a research report on Monday, July 21st. They set a "buy" rating and a $64.00 price objective on the stock.

Hedge Funds Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently bought and sold shares of the company. AlphaQuest LLC raised its stake in Tectonic Therapeutic by 919.4% in the second quarter. AlphaQuest LLC now owns 2,365 shares of the company's stock valued at $47,000 after buying an additional 2,133 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Tectonic Therapeutic in the second quarter valued at $52,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Tectonic Therapeutic by 26.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company's stock worth $75,000 after purchasing an additional 791 shares in the last quarter. Virtus Investment Advisers LLC lifted its stake in shares of Tectonic Therapeutic by 18.3% in the second quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company's stock worth $83,000 after acquiring an additional 649 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Tectonic Therapeutic during the 2nd quarter valued at approximately $99,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Stock Down 4.2%

Tectonic Therapeutic stock traded down $0.66 during midday trading on Tuesday, reaching $14.98. The company's stock had a trading volume of 614,648 shares, compared to its average volume of 537,863. The business has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $20.85. The company has a market cap of $280.31 million, a P/E ratio of -3.71 and a beta of 3.42. Tectonic Therapeutic has a fifty-two week low of $13.70 and a fifty-two week high of $61.07.

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

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.