Tectonic Therapeutic (NASDAQ:TECX) Given Consensus Rating of “Buy” by Analysts

Tectonic Therapeutic (NASDAQ:TECX) has received an average rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $72.25.

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Raymond James initiated coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Leerink Partners raised their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th.

Tectonic Therapeutic Trading Down 5.8 %

NASDAQ TECX opened at $43.87 on Thursday. The company has a market cap of $647.21 million, a price-to-earnings ratio of -7.45 and a beta of 2.63. The company has a 50 day moving average of $46.53 and a 200-day moving average of $30.57. Tectonic Therapeutic has a 1-year low of $12.12 and a 1-year high of $53.41.

Insiders Place Their Bets

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 300,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average cost of $33.59 per share, for a total transaction of $10,077,000.00. Following the acquisition, the director now owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. The trade was a 7.90 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vida Ventures Advisors LLC acquired a new position in Tectonic Therapeutic during the third quarter worth $31,169,000. Farallon Capital Management LLC acquired a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth about $7,099,000. Atlas Venture Life Science Advisors LLC bought a new position in Tectonic Therapeutic in the 2nd quarter valued at about $6,233,000. Ikarian Capital LLC boosted its stake in Tectonic Therapeutic by 325.1% during the 3rd quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock valued at $8,094,000 after purchasing an additional 204,309 shares during the last quarter. Finally, FMR LLC increased its holdings in Tectonic Therapeutic by 13.2% during the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company’s stock worth $36,970,000 after purchasing an additional 142,600 shares in the last quarter. 62.63% of the stock is owned by 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.