Tectonic Therapeutic (NASDAQ:TECX) Trading Up 4.6%

Shares of Tectonic Therapeutic (NASDAQ:TECX) shot up 4.6% on Wednesday . The stock traded as high as $16.96 and last traded at $16.96. 372 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 23,855 shares. The stock had previously closed at $16.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Tectonic Therapeutic in a research note on Monday, June 24th. They set a “buy” rating on the stock. SVB Leerink initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, July 24th. They set an “outperform” rating and a $49.00 price objective on the stock. Piper Sandler began coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 target price for the company. Finally, Leerink Partnrs upgraded Tectonic Therapeutic to a “strong-buy” rating in a report on Wednesday, July 24th.

Tectonic Therapeutic Price Performance

The firm has a market cap of $764.10 million, a P/E ratio of 24.67 and a beta of 2.63.

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC purchased a new position in shares of Tectonic Therapeutic in the 2nd quarter worth $961,000. Farallon Capital Management LLC purchased a new position in shares of Tectonic Therapeutic in the 2nd quarter worth about $7,099,000. Renaissance Technologies LLC acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at about $1,466,000. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at about $6,233,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth about $1,804,000. 62.63% of the stock is owned by hedge funds and other institutional investors.

Tectonic Therapeutic Company Profile

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.