Lifesci Capital Upgrades Tectonic Therapeutic (NASDAQ:TECX) to “Strong-Buy”

Tectonic Therapeutic (NASDAQ:TECX) was upgraded by equities research analysts at Lifesci Capital to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Truist Financial cut their price target on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, October 20th. They issued an “overweight” rating and a $101.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Tectonic Therapeutic Stock Up 6.6%

Shares of NASDAQ TECX opened at $24.37 on Thursday. The business’s 50 day moving average price is $20.35 and its two-hundred day moving average price is $19.65. The company has a market cap of $456.21 million, a PE ratio of -6.31 and a beta of 3.71. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $42.76.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, November 6th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.03. As a group, research analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently modified their holdings of the business. AlphaQuest LLC raised 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 purchasing an additional 2,133 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $52,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Tectonic Therapeutic by 26.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after buying an additional 791 shares in the last quarter. Finally, Virtus Investment Advisers LLC raised 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 buying an additional 649 shares in the last quarter. 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.