Truist Financial assumed coverage on shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $64.00 target price on the stock.
A number of other equities research analysts also recently weighed in on the company. Raymond James Financial began 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. Wall Street Zen upgraded Tectonic Therapeutic from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Mizuho raised their price target on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Lifesci Capital started coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They set an "outperform" rating and a $87.00 price target on the stock. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $80.33.
Read Our Latest Analysis on TECX
Tectonic Therapeutic Price Performance
NASDAQ TECX traded up $0.30 during trading on Monday, reaching $22.22. The company's stock had a trading volume of 162,396 shares, compared to its average volume of 191,619. The stock has a market capitalization of $414.85 million, a PE ratio of -3.04 and a beta of 3.17. The firm has a fifty day moving average of $21.65 and a 200 day moving average of $25.74. Tectonic Therapeutic has a one year low of $13.70 and a one year high of $61.07.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.93) earnings per share for the quarter, topping analysts' consensus estimates of ($1.10) by $0.17. Research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.
Institutional Trading of Tectonic Therapeutic
Large investors have recently modified their holdings of the business. Paradigm Biocapital Advisors LP bought a new stake in Tectonic Therapeutic during the 4th quarter valued at approximately $22,397,000. Millennium Management LLC boosted its position in shares of Tectonic Therapeutic by 726.4% in the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company's stock worth $4,214,000 after purchasing an additional 209,145 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Tectonic Therapeutic by 37.0% in the 4th quarter. Farallon Capital Management LLC now owns 713,050 shares of the company's stock worth $32,922,000 after purchasing an additional 192,653 shares in the last quarter. Woodline Partners LP boosted its position in shares of Tectonic Therapeutic by 132.3% in the 1st quarter. Woodline Partners LP now owns 302,215 shares of the company's stock worth $5,352,000 after purchasing an additional 172,106 shares in the last quarter. Finally, Ally Bridge Group NY LLC bought a new stake in shares of Tectonic Therapeutic in the 1st quarter worth approximately $2,342,000. 62.63% of the stock is owned by institutional investors.
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.
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