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

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been given an average rating of “Buy” by the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $79.40.

A number of equities research analysts have recently commented on TECX shares. Wall Street Zen cut shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Raymond James Financial upgraded Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $76.00 to $81.00 in a report on Tuesday, May 26th. Stifel Nicolaus started coverage on Tectonic Therapeutic in a report on Monday, April 13th. They issued a “buy” rating and a $75.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st.

Insider Buying and Selling

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $30.00, for a total value of $31,950.00. Following the transaction, the insider directly owned 67,682 shares in the company, valued at $2,030,460. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of institutional investors have recently made changes to their positions in the stock. First Light Asset Management LLC purchased a new position in shares of Tectonic Therapeutic during the 3rd quarter worth approximately $3,176,000. Braidwell LP acquired a new position in Tectonic Therapeutic in the 3rd quarter valued at about $11,561,000. Aberdeen Group plc raised its stake in Tectonic Therapeutic by 220.6% in the 4th quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock valued at $23,818,000 after purchasing an additional 785,648 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Tectonic Therapeutic in the 4th quarter valued at about $1,320,000. Finally, 5AM Venture Management LLC increased its stake in Tectonic Therapeutic by 18.6% in the fourth quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock valued at $12,655,000 after purchasing an additional 95,000 shares during the last quarter. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Trading Up 6.4%

Shares of TECX opened at $32.60 on Monday. The firm has a market cap of $615.16 million, a P/E ratio of -7.31 and a beta of 3.21. Tectonic Therapeutic has a 12 month low of $14.39 and a 12 month high of $39.53. The stock’s 50 day moving average is $30.88 and its two-hundred day moving average is $27.47.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). Equities research analysts forecast that Tectonic Therapeutic will post -5.46 EPS for the current 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.