Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives $81.50 Consensus Price Target from Analysts

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $81.50.

A number of research firms have recently issued reports on TECX. Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Truist Financial lowered their price objective on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd.

Insider Activity

In other news, insider Marcella K. Ruddy sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $31.05, for a total transaction of $31,050.00. Following the sale, the insider directly owned 68,747 shares in the company, valued at approximately $2,134,594.35. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Peter Mcnamara sold 6,262 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $30.17, for a total value of $188,924.54. Following the sale, the insider owned 55,285 shares in the company, valued at approximately $1,667,948.45. This represents a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 20,561 shares of company stock worth $597,601. Company insiders own 38.00% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

Large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its position in 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 acquiring an additional 791 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after acquiring an additional 3,247 shares during the period. New York State Common Retirement Fund bought a new stake in Tectonic Therapeutic in the second quarter valued at $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Tectonic Therapeutic in the second quarter valued at $119,000. Finally, Los Angeles Capital Management LLC bought a new stake in Tectonic Therapeutic in the fourth quarter valued at $134,000. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Stock Down 1.8%

Shares of NASDAQ TECX opened at $29.98 on Friday. The business’s 50 day moving average is $26.53 and its two-hundred day moving average is $21.41. The company has a market cap of $563.02 million, a P/E ratio of -7.40 and a beta of 3.59. Tectonic Therapeutic has a 12 month low of $13.70 and a 12 month high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.08. Sell-side analysts expect that Tectonic Therapeutic will post -8.31 earnings per share 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.