Tectonic Therapeutic (NASDAQ:TECX) Coverage Initiated by Analysts at Mizuho

Mizuho started coverage on shares of Tectonic Therapeutic (NASDAQ:TECX) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $51.00 price target on the stock.

Separately, Wells Fargo & Company reduced their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Buy” and a consensus price target of $72.40.

Tectonic Therapeutic Price Performance

NASDAQ:TECX opened at $17.92 on Monday. The company has a market cap of $334.44 million, a price-to-earnings ratio of -3.04 and a beta of 2.87. Tectonic Therapeutic has a 1 year low of $13.70 and a 1 year high of $61.07. The stock’s 50 day simple moving average is $22.13 and its two-hundred day simple moving average is $35.60.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.55. As a group, analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Insider Buying and Selling at Tectonic Therapeutic

In related news, CFO Daniel Lochner acquired 4,617 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the acquisition, the chief financial officer now directly owns 4,617 shares of the company’s stock, valued at $249,964.38. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy A. Springer bought 3,718 shares of the company’s stock in a transaction on Wednesday, April 9th. The stock was bought at an average price of $14.76 per share, for a total transaction of $54,877.68. Following the completion of the purchase, the director now directly owns 4,317,276 shares in the company, valued at approximately $63,722,993.76. This represents a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 234,607 shares of company stock valued at $8,955,655 in the last quarter. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TECX. JPMorgan Chase & Co. lifted its holdings in shares of Tectonic Therapeutic by 5,554.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company’s stock worth $57,000 after buying an additional 1,222 shares during the period. Virtus ETF Advisers LLC purchased a new stake in Tectonic Therapeutic in the fourth quarter worth about $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tectonic Therapeutic in the fourth quarter worth about $144,000. Charles Schwab Investment Management Inc. bought a new position in Tectonic Therapeutic during the 4th quarter worth about $218,000. Finally, Raymond James Financial Inc. purchased a new position in Tectonic Therapeutic during the 4th quarter valued at about $228,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

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.