Analysts Set Tectonic Therapeutic (NASDAQ:TECX) PT at $72.40

Shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) have been assigned an average rating of "Buy" from the seven ratings firms that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $79.20.

TECX has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Mizuho lifted their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday.

Insider Transactions at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 3,718 shares of the stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $14.76 per share, with a total value of $54,877.68. Following the transaction, the director now owns 4,317,276 shares of the company's stock, valued at approximately $63,722,993.76. This trade represents a 0.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have acquired 100,696 shares of company stock worth $1,705,714. Insiders own 38.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clarius Group LLC acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at approximately $468,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at $144,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Tectonic Therapeutic during the 4th quarter valued at $218,000. Raymond James Financial Inc. acquired a new position in shares of Tectonic Therapeutic in the 4th quarter valued at about $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Tectonic Therapeutic by 88.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,485 shares of the company's stock valued at $669,000 after buying an additional 6,783 shares in the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Tectonic Therapeutic Stock Performance

Shares of TECX traded up $1.00 during trading hours on Wednesday, hitting $21.99. 64,792 shares of the stock were exchanged, compared to its average volume of 174,339. The stock's 50-day moving average price is $19.46 and its two-hundred day moving average price is $33.56. The company has a market cap of $410.62 million, a price-to-earnings ratio of -3.67 and a beta of 3.44. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $61.07.

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