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

Key Points

• Tectonic Therapeutic, Inc. (NASDAQ:TECX) has received a consensus recommendation of "Moderate Buy" from analysts, with one sell rating, six buy ratings, and one strong buy rating.
• The company's average twelve-month price objective among analysts is $80.29, although the stock is currently trading much lower at around $16.02.
• Recent institutional activity shows significant interest, with 62.63% of the stock owned by institutional investors and hedge funds, highlighting potential confidence in the company’s future performance.

Tectonic Therapeutic, Inc. (NASDAQ:TECX - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $80.2857.

Several research firms have commented on TECX. Truist Financial began coverage on Tectonic Therapeutic in a research report on Monday, July 21st. They issued a "buy" rating and a $64.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Wednesday. Wall Street Zen downgraded Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Oppenheimer started coverage on Tectonic Therapeutic in a research note on Wednesday, September 3rd. They set an "outperform" rating and a $80.00 target price for the company.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TECX. Y Intercept Hong Kong Ltd acquired a new position in shares of Tectonic Therapeutic during the 1st quarter worth approximately $234,000. Windmill Hill Asset Management Ltd acquired a new position in shares of Tectonic Therapeutic during the 1st quarter worth approximately $709,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Tectonic Therapeutic by 139.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,645 shares of the company's stock worth $614,000 after buying an additional 20,160 shares during the period. Knott David M Jr acquired a new position in Tectonic Therapeutic in the 1st quarter valued at $708,000. Finally, American Century Companies Inc. acquired a new position in Tectonic Therapeutic in the 1st quarter valued at $214,000. 62.63% of the stock is owned by institutional investors and hedge funds.

Tectonic Therapeutic Trading Down 6.2%

Tectonic Therapeutic stock opened at $16.02 on Friday. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $61.07. The stock's 50 day simple moving average is $19.33 and its two-hundred day simple moving average is $20.10. The firm has a market cap of $299.73 million, a PE ratio of -3.97 and a beta of 3.21.

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