Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives $82.17 Average Target Price from Brokerages

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $82.1667.

TECX has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a report on Monday, October 20th. They issued an “overweight” rating and a $101.00 target price for the company. Finally, Oppenheimer started coverage on shares of Tectonic Therapeutic in a research report on Wednesday, September 3rd. They issued an “outperform” rating and a $80.00 target price on the stock.

Tectonic Therapeutic Stock Performance

Shares of TECX stock opened at $19.02 on Friday. The stock’s fifty day moving average is $17.72 and its two-hundred day moving average is $20.10. The firm has a market capitalization of $356.05 million, a P/E ratio of -4.93 and a beta of 3.65. Tectonic Therapeutic has a fifty-two week low of $13.70 and a fifty-two week high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, November 6th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.03. On average, equities analysts forecast that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of hedge funds and other institutional investors have recently bought and sold shares of TECX. Caitong International Asset Management Co. Ltd boosted its position in Tectonic Therapeutic by 451.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after purchasing an additional 3,247 shares in the last quarter. Millennium Management LLC increased its position in shares of Tectonic Therapeutic by 218.0% in the third quarter. Millennium Management LLC now owns 238,170 shares of the company’s stock valued at $3,737,000 after buying an additional 163,281 shares in the last quarter. Jain Global LLC acquired a new position in shares of Tectonic Therapeutic during the 3rd quarter worth $1,122,000. First Light Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic in the 3rd quarter worth about $3,176,000. Finally, Citadel Advisors LLC boosted its position in shares of Tectonic Therapeutic by 80.8% in the 3rd quarter. Citadel Advisors LLC now owns 298,388 shares of the company’s stock worth $4,682,000 after buying an additional 133,342 shares in the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

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.