Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($1.18) earnings per share for the quarter, beating analysts' consensus estimates of ($1.35) by $0.17, FiscalAI reports.
Tectonic Therapeutic Trading Up 2.5%
TECX traded up $0.76 during trading hours on Friday, hitting $30.98. The company's stock had a trading volume of 271,645 shares, compared to its average volume of 269,510. Tectonic Therapeutic has a fifty-two week low of $14.39 and a fifty-two week high of $39.53. The firm has a market capitalization of $584.59 million, a PE ratio of -6.95 and a beta of 3.28. The company has a 50-day simple moving average of $31.24 and a 200 day simple moving average of $28.47.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of TECX. Monimus Capital Management LP grew its holdings in Tectonic Therapeutic by 11.3% during the fourth quarter. Monimus Capital Management LP now owns 26,594 shares of the company's stock worth $555,000 after acquiring an additional 2,700 shares during the period. Raymond James Financial Inc. boosted its position in shares of Tectonic Therapeutic by 15.0% during the 2nd quarter. Raymond James Financial Inc. now owns 21,544 shares of the company's stock valued at $428,000 after purchasing an additional 2,809 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Tectonic Therapeutic by 451.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company's stock valued at $62,000 after purchasing an additional 3,247 shares in the last quarter. Barclays PLC grew its stake in shares of Tectonic Therapeutic by 24.8% in the 4th quarter. Barclays PLC now owns 22,443 shares of the company's stock worth $468,000 after purchasing an additional 4,467 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter worth approximately $99,000. Institutional investors own 62.63% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on TECX. Zacks Research lowered shares of Tectonic Therapeutic from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Wells Fargo & Company dropped their target price on Tectonic Therapeutic from $101.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday. Wall Street Zen cut Tectonic Therapeutic from a "sell" rating to a "strong sell" rating in a research note on Saturday, April 18th. Finally, Raymond James Financial raised shares of Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $76.00 to $81.00 in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $77.80.
Check Out Our Latest Report on Tectonic Therapeutic
Tectonic Therapeutic Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Tectonic Therapeutic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tectonic Therapeutic wasn't on the list.
While Tectonic Therapeutic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
