Brokerages Set Tectonic Therapeutic (NASDAQ:TECX) Price Target at $74.67

Tectonic Therapeutic (NASDAQ:TECX) has been assigned a consensus rating of “Buy” from the six research firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $72.25.

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Raymond James began coverage on shares of Tectonic Therapeutic in a research report on Wednesday. They set an “outperform” rating and a $65.00 price target for the company. Finally, Leerink Partners boosted their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 11th.

Tectonic Therapeutic Price Performance

TECX stock opened at $48.10 on Wednesday. The stock has a market capitalization of $709.48 million, a P/E ratio of -8.17 and a beta of 2.60. Tectonic Therapeutic has a one year low of $12.12 and a one year high of $48.63. The business’s 50 day simple moving average is $35.23.

Insiders Place Their Bets

In related news, Director Timothy A. Springer bought 50,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average price of $28.82 per share, with a total value of $1,441,000.00. Following the transaction, the director now owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. This trade represents a 1.33 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nordwand Advisors LLC bought a new position in shares of Tectonic Therapeutic in the third quarter worth approximately $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Tectonic Therapeutic in the third quarter valued at about $233,000. Acuta Capital Partners LLC bought a new position in shares of Tectonic Therapeutic in the third quarter worth about $415,000. Affinity Asset Advisors LLC purchased a new stake in shares of Tectonic Therapeutic during the second quarter worth about $961,000. Finally, Renaissance Technologies LLC bought a new stake in Tectonic Therapeutic during the 2nd quarter valued at approximately $1,466,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.