Tectonic Therapeutic (NASDAQ:TECX) Rating Lowered 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.

A number of other equities research analysts also recently weighed in on TECX. Mizuho raised their price objective on Tectonic Therapeutic from $51.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Lifesci Capital initiated coverage on shares of Tectonic Therapeutic in a report on Friday, June 6th. They issued an "outperform" rating and a $87.00 price target on the stock. Wells Fargo & Company reduced their price objective 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. Finally, Raymond James Financial began coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tectonic Therapeutic has an average rating of "Buy" and an average price target of $82.33.

Tectonic Therapeutic Stock Up 0.1%

Shares of NASDAQ TECX traded up $0.01 during midday trading on Friday, reaching $19.81. 398,720 shares of the company's stock traded hands, compared to its average volume of 174,957. The company has a market cap of $369.85 million, a price-to-earnings ratio of -2.71 and a beta of 3.25. The stock's 50 day simple moving average is $20.99 and its 200-day simple moving average is $29.57. Tectonic Therapeutic has a one year low of $13.70 and a one year high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.93) earnings per share for the quarter, topping analysts' consensus estimates of ($1.10) by $0.17. Equities analysts predict that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy A. Springer bought 9,478 shares of Tectonic Therapeutic stock in a transaction that occurred on Friday, April 11th. The stock was bought at an average price of $16.31 per share, for a total transaction of $154,586.18. Following the purchase, the director now directly owns 4,334,846 shares of the company's stock, valued at approximately $70,701,338.26. The trade was a 0.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders purchased 100,696 shares of company stock valued at $1,705,714. Insiders own 38.00% of the company's stock.

Institutional Trading of Tectonic Therapeutic

Several large investors have recently added to or reduced their stakes in TECX. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 1,222 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in Tectonic Therapeutic in the fourth quarter valued at approximately $71,000. American Century Companies Inc. acquired a new position in Tectonic Therapeutic in the 1st quarter worth approximately $214,000. Charles Schwab Investment Management Inc. purchased a new position in Tectonic Therapeutic during the 4th quarter worth approximately $218,000. Finally, Raymond James Financial Inc. purchased a new position in Tectonic Therapeutic during the 4th quarter worth approximately $228,000. Hedge funds and other institutional investors 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.