Tectonic Therapeutic (NASDAQ:TECX) Upgraded by Wall Street Zen to "Sell" Rating

Key Points

• Wall Street Zen upgraded Tectonic Therapeutic’s rating from “strong sell” to “sell,” while analyst sentiment overall remains “Moderate Buy” with an average price target of $77.80.
• Tectonic shares opened at $30.98, with a market capitalization of approximately $584.6 million. The company reported a quarterly loss of $1.18 per share, beating the consensus estimate of a $1.35 loss.
• Institutional ownership stands at 62.63%, with major investors including Millennium Management, Goldman Sachs, Geode Capital Management and JPMorgan increasing their positions.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Raymond James Financial upgraded shares of Tectonic Therapeutic from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th. Stifel Nicolaus started coverage on shares of Tectonic Therapeutic in a report on Monday, April 13th. They issued a "buy" rating and a $75.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Zacks Research cut shares of Tectonic Therapeutic from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $77.80.

Tectonic Therapeutic Stock Up 2.5%

Shares of Tectonic Therapeutic stock opened at $30.98 on Friday. The company has a market capitalization of $584.59 million, a price-to-earnings ratio of -6.78 and a beta of 3.28. The stock's 50-day simple moving average is $31.24 and its 200-day simple moving average is $28.49. Tectonic Therapeutic has a 52 week low of $14.39 and a 52 week high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.17. On average, equities analysts expect that Tectonic Therapeutic will post -5.46 earnings per share for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

Large investors have recently bought and sold shares of the business. Millennium Management LLC lifted its position in Tectonic Therapeutic by 726.4% during the first quarter. Millennium Management LLC now owns 237,938 shares of the company's stock valued at $4,214,000 after purchasing an additional 209,145 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Tectonic Therapeutic by 331.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company's stock worth $1,856,000 after buying an additional 80,483 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Tectonic Therapeutic by 58.7% in the 1st quarter. Jane Street Group LLC now owns 47,145 shares of the company's stock worth $835,000 after buying an additional 17,443 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tectonic Therapeutic by 242.5% during the 2nd quarter. Geode Capital Management LLC now owns 272,257 shares of the company's stock valued at $5,411,000 after buying an additional 192,770 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Tectonic Therapeutic by 483.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company's stock valued at $130,000 after buying an additional 5,426 shares in the last quarter. Institutional investors 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.

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