Tectonic Therapeutic (NASDAQ:TECX) Rating Increased to Hold at Wall Street Zen

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

Several other brokerages also recently weighed in on TECX. Raymond James Financial assumed coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 price objective for the company. 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. Lifesci Capital assumed 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. Finally, Mizuho boosted their price objective on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $83.60.

Tectonic Therapeutic Stock Down 0.8%

Tectonic Therapeutic stock traded down $0.17 during trading on Friday, reaching $20.61. The stock had a trading volume of 146,344 shares, compared to its average volume of 184,595. Tectonic Therapeutic has a 52-week low of $13.70 and a 52-week high of $61.07. The business has a 50 day moving average price of $21.32 and a 200 day moving average price of $27.32. The stock has a market cap of $384.79 million, a PE ratio of -2.82 and a beta of 3.17.

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

Insider Transactions at Tectonic Therapeutic

In other news, Director Timothy A. Springer acquired 9,478 shares of the company's stock in a transaction on Friday, April 11th. The shares were bought at an average cost of $16.31 per share, with a total value of $154,586.18. Following the purchase, the director owned 4,334,846 shares of the company's stock, valued at $70,701,338.26. This represents a 0.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.20% of the company's stock.

Hedge Funds Weigh In On Tectonic Therapeutic

Several institutional investors have recently bought and sold shares of TECX. JPMorgan Chase & Co. increased its stake in Tectonic Therapeutic by 5,554.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock valued at $57,000 after buying an additional 1,222 shares during the period. Virtus ETF Advisers LLC acquired a new position in shares of Tectonic Therapeutic during the 4th quarter worth $71,000. American Century Companies Inc. acquired a new position in shares of Tectonic Therapeutic during the 1st quarter worth $214,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Tectonic Therapeutic during the 4th quarter worth $218,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tectonic Therapeutic during the 4th quarter worth $228,000. 62.63% of the stock is owned by institutional investors and hedge funds.

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.