Mizuho Increases Tectonic Therapeutic (NASDAQ:TECX) Price Target to $85.00

Tectonic Therapeutic (NASDAQ:TECX) had its price objective upped by analysts at Mizuho from $51.00 to $85.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 304.95% from the company’s previous close.

Separately, Wells Fargo & Company lowered their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Buy” and a consensus price target of $79.20.

Tectonic Therapeutic Price Performance

Shares of NASDAQ TECX opened at $20.99 on Thursday. The company’s 50 day simple moving average is $19.46 and its 200 day simple moving average is $33.66. Tectonic Therapeutic has a fifty-two week low of $13.70 and a fifty-two week high of $61.07. The firm has a market capitalization of $391.95 million, a P/E ratio of -3.56 and a beta of 3.44.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.17. Sell-side analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer acquired 3,718 shares of the stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $14.76 per share, with a total value of $54,877.68. Following the completion of the transaction, the director now directly owns 4,317,276 shares of the company’s stock, valued at approximately $63,722,993.76. The trade was a 0.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 100,696 shares of company stock valued at $1,705,714 over the last quarter. Corporate insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Several large investors have recently made changes to their positions in TECX. Clarius Group LLC bought a new position in Tectonic Therapeutic in the fourth quarter valued at $468,000. China Universal Asset Management Co. Ltd. bought a new position in Tectonic Therapeutic in the fourth quarter valued at $144,000. Charles Schwab Investment Management Inc. bought a new position in Tectonic Therapeutic in the fourth quarter valued at $218,000. Raymond James Financial Inc. bought a new position in Tectonic Therapeutic in the fourth quarter valued at $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Tectonic Therapeutic by 88.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,485 shares of the company’s stock valued at $669,000 after purchasing an additional 6,783 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.

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.