Tectonic Therapeutic (NASDAQ:TECX) Cut to "Sell" at Wall Street Zen

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

Other analysts have also issued reports about the stock. Mizuho boosted their price objective on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Lifesci Capital began coverage on shares of Tectonic Therapeutic in a research report on Friday, June 6th. They set an "outperform" rating and a $87.00 price objective for the company. Raymond James Financial started coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $82.33.

Tectonic Therapeutic Trading Up 7.6%

TECX stock traded up $1.42 during trading on Friday, reaching $20.17. 114,426 shares of the stock were exchanged, compared to its average volume of 174,911. The firm has a market capitalization of $376.57 million, a price-to-earnings ratio of -2.76 and a beta of 3.26. The business has a 50 day moving average price of $21.00 and a 200-day moving average price of $29.19. 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 for the quarter, topping the consensus estimate of ($1.10) by $0.17. On average, research analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insider Buying and Selling at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 3,718 shares of Tectonic Therapeutic stock in a transaction on Wednesday, April 9th. The stock was bought at an average price of $14.76 per share, with a total value of $54,877.68. Following the completion of the acquisition, the director now owns 4,317,276 shares in the company, valued at $63,722,993.76. The trade was a 0.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 100,696 shares of company stock valued at $1,705,714. 9.20% of the stock is owned by corporate insiders.

Institutional Trading of Tectonic Therapeutic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 worth $57,000 after buying an additional 1,222 shares during the period. Virtus ETF Advisers LLC acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter worth approximately $71,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter worth approximately $218,000. Raymond James Financial Inc. purchased a new position in Tectonic Therapeutic in the 4th quarter valued at approximately $228,000. Finally, Commonwealth Equity Services LLC acquired a new position in Tectonic Therapeutic during the fourth quarter worth $231,000. Institutional investors and hedge funds own 62.63% of the company's stock.

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.