Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Has Average Price Target of $69.17

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $69.17.

Several research firms have weighed in on TECX. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, October 15th. Wall Street Zen downgraded shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 18th. TD Cowen restated a “buy” rating on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Finally, UBS Group assumed coverage on Tectonic Therapeutic in a report on Sunday, October 11th. They issued a “neutral” rating and a $26.00 target price on the stock.

Institutional Trading of Tectonic Therapeutic

Several hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC boosted its stake in shares of Tectonic Therapeutic by 23.6% during the second quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock valued at $27,525,000 after purchasing an additional 152,983 shares during the period. Velan Capital Investment Management LP bought a new position in Tectonic Therapeutic in the second quarter worth approximately $206,000. Wellington Management Group LLP boosted its position in Tectonic Therapeutic by 7.5% during the second quarter. Wellington Management Group LLP now owns 31,432 shares of the company’s stock valued at $1,080,000 after purchasing an additional 2,192 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Tectonic Therapeutic in the 2nd quarter worth approximately $380,000. Finally, 5AM Venture Management LLC acquired a new stake in Tectonic Therapeutic in the second quarter valued at approximately $20,853,938. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Down 4.8%

Shares of NASDAQ:TECX opened at $20.07 on Wednesday. The stock has a market capitalization of $392.37 million, a PE ratio of -4.39 and a beta of 3.28. The firm’s 50 day moving average price is $27.47 and its 200-day moving average price is $29.42. Tectonic Therapeutic has a twelve month low of $15.52 and a twelve month high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.35) by $0.17. Analysts expect that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing medicines that target G protein-coupled receptors (GPCRs), a large class of cell-surface proteins involved in numerous biological processes and diseases. The company seeks to address GPCRs that have historically been difficult to target with conventional drug-discovery methods.

Tectonic Therapeutic uses its proprietary GEODe platform to identify and develop antibodies and other biologic medicines against GPCRs.