Tectonic Therapeutic (NASDAQ:TECX) Announces Earnings Results, Beats Expectations By $0.17 EPS

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17, Zacks reports.

Tectonic Therapeutic Stock Down 6.9 %

NASDAQ:TECX traded down $1.46 during trading hours on Friday, reaching $19.56. 168,635 shares of the company's stock were exchanged, compared to its average volume of 175,092. The company has a market capitalization of $365.20 million, a P/E ratio of -3.32 and a beta of 3.44. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $61.07. The business's 50-day simple moving average is $19.69 and its two-hundred day simple moving average is $34.27.

Insider Activity

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 3,718 shares of Tectonic Therapeutic stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $14.76 per share, for a total transaction of $54,877.68. Following the completion of the acquisition, the director now directly owns 4,317,276 shares of the company's stock, valued at approximately $63,722,993.76. This trade represents a 0.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders purchased 100,696 shares of company stock worth $1,705,714. Insiders own 38.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TECX. Mizuho assumed coverage on shares of Tectonic Therapeutic in a report on Monday, April 21st. They set an "outperform" rating and a $51.00 target price on the stock. Wells Fargo & Company reduced their price objective on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $72.40.

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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