Tectonic Therapeutic (NASDAQ:TECX) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic (NASDAQ:TECX) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $101.00 target price on the stock.

A number of other research analysts also recently commented on the stock. Truist Financial began coverage on shares of Tectonic Therapeutic in a research note on Monday, July 21st. They set a “buy” rating and a $64.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Tectonic Therapeutic from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Oppenheimer began coverage on shares of Tectonic Therapeutic in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.29.

Tectonic Therapeutic Price Performance

NASDAQ TECX opened at $19.05 on Monday. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $61.07. The company has a 50-day moving average of $18.74 and a 200-day moving average of $20.11. The company has a market cap of $356.43 million, a P/E ratio of -4.72 and a beta of 3.21.

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

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently modified their holdings of the company. AlphaQuest LLC grew its holdings in shares of Tectonic Therapeutic by 919.4% during the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after purchasing an additional 2,133 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth about $52,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Tectonic Therapeutic by 26.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock worth $75,000 after purchasing an additional 791 shares during the period. Virtus Investment Advisers LLC grew its holdings in shares of Tectonic Therapeutic by 18.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock worth $83,000 after purchasing an additional 649 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth about $99,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

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.