Tectonic Therapeutic (NASDAQ:TECX) Receives $80.50 Average PT from Analysts

Shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) have received a consensus recommendation of "Buy" from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $82.33.

TECX has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Lifesci Capital started coverage on Tectonic Therapeutic in a research report on Friday, June 6th. They issued an "outperform" rating and a $87.00 target price on the stock. Mizuho increased their price target on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Raymond James assumed coverage on Tectonic Therapeutic in a research note on Wednesday. They issued an "outperform" rating and a $76.00 price objective on the stock.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer bought 3,718 shares of the stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average cost of $14.76 per share, with a total value of $54,877.68. Following the completion of the purchase, the director now owns 4,317,276 shares of the company's stock, valued at $63,722,993.76. This trade represents a 0.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 100,696 shares of company stock worth $1,705,714. 38.00% of the stock is currently owned by company insiders.

Institutional Trading of Tectonic Therapeutic

A number of large investors have recently modified their holdings of TECX. Charles Schwab Investment Management Inc. bought a new stake in Tectonic Therapeutic during the 4th quarter valued at $218,000. Raymond James Financial Inc. purchased a new position in shares of Tectonic Therapeutic during the fourth quarter valued at $228,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Tectonic Therapeutic by 88.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,485 shares of the company's stock valued at $669,000 after acquiring an additional 6,783 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $231,000. Finally, JPMorgan Chase & Co. lifted its stake in Tectonic Therapeutic by 5,554.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock worth $57,000 after acquiring an additional 1,222 shares during the period. Hedge funds and other institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Stock Performance

Shares of TECX traded down $1.56 during mid-day trading on Friday, hitting $23.61. 109,593 shares of the company traded hands, compared to its average volume of 173,336. The stock has a market cap of $440.78 million, a price-to-earnings ratio of -4.01 and a beta of 3.25. The stock has a 50-day moving average price of $20.14 and a two-hundred day moving average price of $31.15. Tectonic Therapeutic has a 1 year low of $13.70 and a 1 year high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.10) by $0.17. On average, analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current year.

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.