Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives $80.29 Consensus Price Target from Analysts

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $80.2857.

A number of brokerages have commented on TECX. Truist Financial started coverage on Tectonic Therapeutic in a report on Monday, July 21st. They set a “buy” rating and a $64.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Wednesday, October 8th. Wall Street Zen cut Tectonic Therapeutic from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Oppenheimer began coverage on shares of Tectonic Therapeutic in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $80.00 target price for the company.

Hedge Funds Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently modified their holdings of the company. Virtus Investment Advisers LLC grew its position in shares of Tectonic Therapeutic by 18.3% in the second quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Tectonic Therapeutic by 26.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock worth $75,000 after buying an additional 791 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Tectonic Therapeutic by 3.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,708 shares of the company’s stock worth $710,000 after buying an additional 1,063 shares during the last quarter. AlphaQuest LLC boosted its stake in Tectonic Therapeutic by 919.4% in the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after buying an additional 2,133 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in Tectonic Therapeutic in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Up 0.4%

Shares of TECX opened at $16.09 on Friday. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $61.07. The stock has a market cap of $301.04 million, a P/E ratio of -3.98 and a beta of 3.21. The company has a 50-day moving average of $19.23 and a two-hundred day moving average of $20.10.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.09). As a group, analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

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.