Tectonic Therapeutic (NASDAQ:TECX) Now Covered by Truist Financial

Truist Financial initiated coverage on shares of Tectonic Therapeutic (NASDAQ:TECX) in a research report released on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $64.00 price objective on the stock.

TECX has been the subject of several other research reports. Raymond James Financial initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 11th. They set an “outperform” rating and a $76.00 price objective for the company. Wall Street Zen raised shares of Tectonic Therapeutic from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Mizuho increased their price target on shares of Tectonic Therapeutic from $51.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Lifesci Capital initiated coverage on shares of Tectonic Therapeutic in a research note on Friday, June 6th. They issued an “outperform” rating and a $87.00 price target for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Tectonic Therapeutic presently has a consensus rating of “Buy” and an average price target of $80.33.

Tectonic Therapeutic Stock Up 0.0%

TECX stock opened at $21.92 on Monday. The stock has a market capitalization of $409.25 million, a P/E ratio of -3.00 and a beta of 3.17. The firm has a 50-day simple moving average of $21.65 and a 200-day simple moving average of $25.74. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, May 8th. The company reported ($0.93) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. On average, analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised 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 valued at $57,000 after purchasing an additional 1,222 shares in the last quarter. Virtus ETF Advisers LLC acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $71,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $218,000. Raymond James Financial Inc. acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $228,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $231,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

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.