Tectonic Therapeutic (NASDAQ:TECX) Posts Quarterly Earnings Results

Tectonic Therapeutic (NASDAQ:TECX) announced its quarterly earnings results on Thursday. The company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.24, Zacks reports.

Tectonic Therapeutic Stock Down 4.3%

Tectonic Therapeutic stock traded down $0.88 during trading hours on Thursday, hitting $19.42. 109,567 shares of the company traded hands, compared to its average volume of 255,481. The firm has a market cap of $379.66 million, a P/E ratio of -4.25 and a beta of 3.51. The firm’s 50-day simple moving average is $24.94 and its two-hundred day simple moving average is $27.99. Tectonic Therapeutic has a 1-year low of $16.58 and a 1-year high of $39.53.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TECX shares. Wells Fargo & Company reduced their price objective on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, October 15th. Zacks Research raised Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. UBS Group began coverage on Tectonic Therapeutic in a research report on Sunday, October 11th. They set a “neutral” rating and a $26.00 price target for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $80.00 price target on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tectonic Therapeutic has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

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.