Analysts Set Tectonic Therapeutic, Inc. (NASDAQ:TECX) PT at $80.29

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have earned an average rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $80.2857.

TECX has been the topic of several research reports. Wall Street Zen cut shares of Tectonic Therapeutic from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Oppenheimer began coverage on Tectonic Therapeutic in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $80.00 price target on the stock. Lifesci Capital began coverage on Tectonic Therapeutic in a research note on Friday, June 6th. They issued an “outperform” rating and a $87.00 price target on the stock. Truist Financial began coverage on Tectonic Therapeutic in a research note on Monday, July 21st. They issued a “buy” rating and a $64.00 price target on the stock. Finally, Raymond James Financial began coverage on Tectonic Therapeutic in a research note on Wednesday, June 11th. They issued an “outperform” rating and a $76.00 price target on the stock.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of institutional investors have recently bought and sold shares of TECX. Millennium Management LLC grew its stake in Tectonic Therapeutic by 726.4% during the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock valued at $4,214,000 after acquiring an additional 209,145 shares in the last quarter. Geode Capital Management LLC grew its stake in Tectonic Therapeutic by 242.5% during the 2nd quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock valued at $5,411,000 after acquiring an additional 192,770 shares in the last quarter. Woodline Partners LP grew 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 valued at $5,352,000 after acquiring an additional 172,106 shares in the last quarter. Ally Bridge Group NY LLC purchased a new position in Tectonic Therapeutic during the 1st quarter valued at about $2,342,000. Finally, Baker BROS. Advisors LP purchased a new position in Tectonic Therapeutic during the 1st quarter valued at about $1,771,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Up 3.9%

Shares of Tectonic Therapeutic stock opened at $15.64 on Tuesday. The company’s 50-day moving average price is $21.53 and its two-hundred day moving average price is $20.91. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07. The stock has a market cap of $292.62 million, a PE ratio of -3.87 and a beta of 3.42.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly 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, equities analysts predict that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

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.