Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Upgraded by Wall Street Zen

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

A number of other research analysts have also recently issued reports on TECX. Raymond James Financial assumed coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 11th. They issued an "outperform" rating and a $76.00 price target for the company. Mizuho raised their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wells Fargo & Company decreased their price target on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Finally, Lifesci Capital assumed coverage on shares of Tectonic Therapeutic in a report on Friday, June 6th. They issued an "outperform" rating and a $87.00 price target for the company. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $83.60.

Tectonic Therapeutic Trading Up 3.1%

NASDAQ:TECX traded up $0.66 during midday trading on Friday, reaching $21.75. 35,937 shares of the stock traded hands, compared to its average volume of 184,448. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $61.07. The business has a 50-day moving average of $21.30 and a two-hundred day moving average of $27.67.

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

Insider Buying and Selling at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 9,478 shares of the business's stock in a transaction dated Friday, April 11th. The shares were purchased at an average price of $16.31 per share, for a total transaction of $154,586.18. Following the completion of the purchase, the director directly owned 4,334,846 shares of the company's stock, valued at $70,701,338.26. The trade was a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 100,696 shares of company stock valued at $1,705,714 in the last quarter. 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 business. JPMorgan Chase & Co. increased 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 acquiring an additional 1,222 shares during the period. Virtus ETF Advisers LLC acquired a new stake in shares of Tectonic Therapeutic in the fourth quarter worth $71,000. American Century Companies Inc. acquired a new stake in shares of Tectonic Therapeutic in the first quarter worth $214,000. Charles Schwab Investment Management Inc. acquired a new stake in Tectonic Therapeutic during the fourth quarter valued at $218,000. Finally, Raymond James Financial Inc. acquired a new stake in Tectonic Therapeutic during the fourth quarter valued at $228,000. 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.