Tectonic Therapeutic (NASDAQ:TECX) Coverage Initiated at Oppenheimer

Key Points

• Oppenheimer has initiated coverage of Tectonic Therapeutic (NASDAQ:TECX) with an "outperform" rating and a price target of $80.00, suggesting a potential upside of 362.72% from its last close.
• Other firms, including Lifesci Capital and Raymond James, have also set "outperform" ratings with varying price targets, while Wall Street Zen has downgraded the stock to a "sell" rating.
• Tectonic Therapeutic recently reported a quarterly loss of ($1.07) EPS, which was below analysts' consensus estimate of ($0.98).

Oppenheimer initiated coverage on shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $80.00 price target on the stock. Oppenheimer's price target would indicate a potential upside of 362.72% from the company's previous close.

Several other equities research analysts have also commented on the stock. Lifesci Capital began coverage on shares of Tectonic Therapeutic in a report on Friday, June 6th. They issued an "outperform" rating and a $87.00 price target for the company. Raymond James Financial began coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price target for the company. Mizuho boosted their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Wall Street Zen downgraded shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Truist Financial started coverage on shares of Tectonic Therapeutic in a research report on Monday, July 21st. They issued a "buy" rating and a $64.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat.com, Tectonic Therapeutic currently has a consensus rating of "Buy" and an average target price of $80.29.

Tectonic Therapeutic Trading Up 3.8%

TECX stock opened at $17.29 on Wednesday. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $61.07. The company has a 50-day moving average price of $22.52 and a 200 day moving average price of $21.84. The stock has a market cap of $323.48 million, a PE ratio of -4.40 and a beta of 3.42.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its quarterly 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). Sell-side analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

A number of hedge funds have recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC boosted its holdings in Tectonic Therapeutic by 18.3% during the second quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company's stock worth $83,000 after buying an additional 649 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in 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 buying an additional 791 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tectonic Therapeutic by 3.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,708 shares of the company's stock valued at $710,000 after purchasing an additional 1,063 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Tectonic Therapeutic by 5,554.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock valued at $57,000 after purchasing an additional 1,222 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in Tectonic Therapeutic by 919.4% during the second quarter. AlphaQuest LLC now owns 2,365 shares of the company's stock valued at $47,000 after purchasing an additional 2,133 shares in the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.

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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