Tectonic Therapeutic (NASDAQ:TECX) Rating Increased to Strong-Buy at Lifesci Capital

Lifesci Capital upgraded shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other research analysts also recently commented on TECX. Mizuho lifted their target price on Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. 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 report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $80.50.

Tectonic Therapeutic Stock Performance

TECX traded up $0.68 during trading on Thursday, reaching $25.16. 208,585 shares of the stock were exchanged, compared to its average volume of 173,527. The stock's 50 day moving average price is $20.14 and its two-hundred day moving average price is $31.15. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07. The stock has a market cap of $469.81 million, a P/E ratio of -4.27 and a beta of 3.25.

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

Insider Activity at Tectonic Therapeutic

In other news, Director Timothy A. Springer bought 3,718 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of $14.76 per share, with a total value of $54,877.68. Following the acquisition, the director now directly owns 4,317,276 shares in the company, valued at $63,722,993.76. This represents 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 hyperlink. Insiders bought 100,696 shares of company stock worth $1,705,714 in the last ninety days. 38.00% of the stock is owned by company insiders.

Institutional Trading of Tectonic Therapeutic

Several large investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new position in Tectonic Therapeutic during the fourth quarter valued at approximately $1,329,000. Jane Street Group LLC bought a new position in shares of Tectonic Therapeutic in the 4th quarter valued at $1,371,000. Barclays PLC raised its holdings in shares of Tectonic Therapeutic by 1,008.5% during the 4th quarter. Barclays PLC now owns 15,974 shares of the company's stock worth $737,000 after buying an additional 14,533 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Tectonic Therapeutic during the 4th quarter worth $228,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Tectonic Therapeutic during the 4th quarter worth $347,000. 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.