Tectonic Therapeutic (NASDAQ:TECX) Given Average Recommendation of "Buy" by Analysts

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) has earned an average rating of "Buy" from the eight research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $80.50.

Several equities research analysts recently weighed in on the stock. Mizuho raised their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wells Fargo & Company cut their target price 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. Finally, Lifesci Capital began coverage on Tectonic Therapeutic in a research note on Friday. They issued an "outperform" rating and a $87.00 price target for the company.

Insiders Place Their Bets

In other news, Director Timothy A. Springer bought 9,478 shares of the stock in a transaction on Friday, April 11th. The shares were bought at an average price of $16.31 per share, with a total value of $154,586.18. Following the completion of the acquisition, the director now owns 4,334,846 shares in the company, valued at $70,701,338.26. The trade was a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders purchased 100,696 shares of company stock valued at $1,705,714. Company insiders own 38.00% of the company's stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position 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 buying an additional 1,222 shares during the period. Virtus ETF Advisers LLC purchased a new position in shares of Tectonic Therapeutic during the 4th quarter worth $71,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at $218,000. Raymond James Financial Inc. purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter worth $228,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter worth $231,000. Hedge funds and other institutional investors own 62.63% of the company's stock.

Tectonic Therapeutic Price Performance

Shares of NASDAQ:TECX opened at $23.06 on Friday. The business has a fifty day moving average price of $19.84 and a 200-day moving average price of $31.45. The company has a market capitalization of $430.60 million, a PE ratio of -3.92 and a beta of 3.25. 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 announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. On average, sell-side analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

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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