Tectonic Therapeutic (NASDAQ:TECX) Coverage Initiated by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage on Tectonic Therapeutic (NASDAQ:TECX) with an "overweight" rating and a price target of $101.00, indicating a potential upside of 485.17% from its previous close.
• Despite Wells Fargo's positive outlook, other analysts have issued mixed ratings, with Weiss Ratings giving a "sell (d-)" and Wall Street Zen lowering their rating from "hold" to "sell."
• The stock's average target price among analysts is $80.29, and it currently has a consensus rating of "Moderate Buy," reflecting varying opinions on its future performance.

Equities research analysts at Wells Fargo & Company assumed coverage on shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) in a report released on Monday,Briefing.com Automated Import reports. The brokerage set an "overweight" rating and a $101.00 price target on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 485.17% from the stock's previous close.

Several other research analysts also recently commented on TECX. Weiss Ratings restated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research report on Wednesday, October 8th. Wall Street Zen cut Tectonic Therapeutic from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Truist Financial began coverage on Tectonic Therapeutic in a research note on Monday, July 21st. They issued a "buy" rating and a $64.00 price objective on the stock. Finally, Oppenheimer assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $80.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $80.29.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ TECX opened at $17.26 on Monday. The stock has a market capitalization of $322.93 million, a P/E ratio of -4.27 and a beta of 3.21. The stock's fifty day moving average is $18.80 and its 200 day moving average is $20.09. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.09). Equities research analysts forecast that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Trading of Tectonic Therapeutic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new position in Tectonic Therapeutic during the 1st quarter worth about $234,000. Windmill Hill Asset Management Ltd acquired a new stake in shares of Tectonic Therapeutic during the first quarter worth $709,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Tectonic Therapeutic by 139.2% during the first 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 last quarter. Knott David M Jr acquired a new position in Tectonic Therapeutic in the first quarter valued at $708,000. Finally, American Century Companies Inc. acquired a new stake in Tectonic Therapeutic during the 1st quarter worth about $214,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

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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