Tectonic Therapeutic (NASDAQ:TECX) Rating Lowered to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Tectonic Therapeutic to a "Strong Sell", but analyst coverage remains mixed — MarketBeat shows a consensus rating of "Moderate Buy" with a consensus target of $80.57 (1 Strong Buy, 6 Buy, 1 Sell) and divergent firm targets such as Truist $60 and Stifel $75.
• Tectonic shares opened at $29.51 (12‑month range $14.39–$36.03) with a market cap of ~$554M and a negative P/E; the company reported Q4 EPS of -$1.03 (vs. -$1.11 est.) while analysts forecast -8.31 EPS for the year, and insiders recently sold ~20.6k shares (including a 6,262-share sale by Peter McNamara) even as CFO Daniel Lochner bought 6,000 shares — insiders and institutions own ~38% and ~62.6% of the stock, respectively.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

A number of other research firms have also weighed in on TECX. Truist Financial cut their price objective on Tectonic Therapeutic from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. Lifesci Capital upgraded shares of Tectonic Therapeutic to a "strong-buy" rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus initiated coverage on shares of Tectonic Therapeutic in a research note on Monday. They set a "buy" rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.57.

Tectonic Therapeutic Trading Down 0.6%

Tectonic Therapeutic stock opened at $29.51 on Friday. Tectonic Therapeutic has a twelve month low of $14.39 and a twelve month high of $36.03. The stock's fifty day simple moving average is $27.99 and its 200-day simple moving average is $22.24. The firm has a market capitalization of $554.20 million, a P/E ratio of -7.29 and a beta of 3.59.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.03) earnings per share for the quarter, topping analysts' consensus estimates of ($1.11) by $0.08. Sell-side analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Peter Mcnamara sold 6,262 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $30.17, for a total transaction of $188,924.54. Following the completion of the transaction, the insider owned 55,285 shares in the company, valued at approximately $1,667,948.45. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daniel Lochner bought 6,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were purchased at an average price of $21.61 per share, with a total value of $129,660.00. Following the purchase, the chief financial officer owned 32,044 shares of the company's stock, valued at approximately $692,470.84. This represents a 23.04% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 20,561 shares of company stock worth $597,601. Corporate insiders own 38.00% of the company's stock.

Hedge Funds Weigh In On Tectonic Therapeutic

Several large investors have recently bought and sold shares of TECX. Caitong International Asset Management Co. Ltd boosted its stake in Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company's stock valued at $62,000 after acquiring an additional 3,247 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Tectonic Therapeutic in the second quarter valued at $99,000. China Universal Asset Management Co. Ltd. boosted its stake in Tectonic Therapeutic by 83.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,880 shares of the company's stock valued at $108,000 after acquiring an additional 3,130 shares in the last quarter. AlphaQuest LLC boosted its stake in Tectonic Therapeutic by 208.6% in the third quarter. AlphaQuest LLC now owns 7,299 shares of the company's stock valued at $115,000 after acquiring an additional 4,934 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Tectonic Therapeutic in the second quarter valued at $119,000. Institutional investors and hedge funds own 62.63% of the company's stock.

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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