Tectonic Therapeutic's (TECX) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Tectonic Therapeutics (TECX) has had its sell rating reaffirmed by Weiss Ratings amid mixed analyst opinions, with price targets ranging from $64.00 to $80.00.
• The company reported a $1.07 EPS loss for the last quarter, missing estimates and projecting a negative EPS of -8.31 for the current year.
• A significant portion of Tectonic's stock, 62.63%, is held by institutional investors, indicating strong institutional confidence despite the sell rating.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research analysts also recently issued reports on TECX. Truist Financial initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, July 21st. They set a "buy" rating and a $64.00 price target on the stock. Wall Street Zen downgraded shares of Tectonic Therapeutic from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Oppenheimer initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, September 3rd. They set an "outperform" rating and a $80.00 price target on the stock. Finally, Raymond James Financial initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 11th. They set an "outperform" rating and a $76.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Tectonic Therapeutic presently has a consensus rating of "Moderate Buy" and an average price target of $80.29.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ:TECX opened at $15.36 on Wednesday. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07. The company's fifty day moving average is $19.53 and its 200-day moving average is $20.16. The company has a market capitalization of $287.39 million, a PE ratio of -3.80 and a beta of 3.21.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.09). On average, analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

A number of institutional investors and hedge funds have recently modified their holdings of TECX. Woodline Partners LP increased its stake in Tectonic Therapeutic by 132.3% during the 1st quarter. Woodline Partners LP now owns 302,215 shares of the company's stock worth $5,352,000 after purchasing an additional 172,106 shares in the last quarter. Wellington Management Group LLP acquired a new position in Tectonic Therapeutic during the 1st quarter worth approximately $348,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Tectonic Therapeutic in the 1st quarter valued at approximately $1,771,000. EcoR1 Capital LLC boosted its holdings in shares of Tectonic Therapeutic by 10.1% in the 1st quarter. EcoR1 Capital LLC now owns 935,121 shares of the company's stock valued at $16,561,000 after buying an additional 85,978 shares during the last quarter. Finally, Cliffwater LLC acquired a new stake in shares of Tectonic Therapeutic in the 1st quarter valued at approximately $272,000. 62.63% of the stock is owned by institutional investors.

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.

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