Tectonic Therapeutic, Inc. (NASDAQ:TECX) Given Consensus Rating of “Moderate Buy” by Brokerages

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $81.50.

A number of research firms have weighed in on TECX. Wells Fargo & Company started coverage on shares of Tectonic Therapeutic in a report on Monday, October 20th. They issued an “overweight” rating and a $101.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, January 22nd. Truist Financial reduced 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. Finally, Lifesci Capital upgraded Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th.

Tectonic Therapeutic Price Performance

TECX opened at $22.71 on Friday. The firm has a fifty day moving average price of $20.55 and a 200 day moving average price of $19.66. Tectonic Therapeutic has a 1 year low of $13.70 and a 1 year high of $36.11. The stock has a market cap of $425.13 million, a P/E ratio of -5.88 and a beta of 3.71.

Insider Buying and Selling

In related news, CFO Daniel Lochner purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average price of $21.61 per share, with a total value of $129,660.00. Following the acquisition, the chief financial officer owned 32,044 shares in the company, valued at $692,470.84. The trade was a 23.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 38.00% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC lifted its stake in Tectonic Therapeutic by 919.4% in the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock valued at $47,000 after buying an additional 2,133 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Tectonic Therapeutic during the second quarter valued at approximately $52,000. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake 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 worth $75,000 after acquiring an additional 791 shares during the last quarter. Finally, Virtus Investment Advisers LLC boosted its stake 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 worth $83,000 after acquiring an additional 649 shares during the last quarter. 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.