Tectonic Therapeutic (NASDAQ:TECX) Receives Average Recommendation of “Buy” from Analysts

Tectonic Therapeutic (NASDAQ:TECX) has earned a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $80.50.

Several brokerages have recently commented on TECX. Leerink Partners increased their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Raymond James started coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday.

Tectonic Therapeutic Stock Down 1.3 %

Shares of TECX opened at $54.14 on Monday. The business’s fifty day moving average is $45.64 and its 200 day moving average is $33.64. Tectonic Therapeutic has a 12-month low of $13.80 and a 12-month high of $61.07. The stock has a market cap of $798.57 million, a P/E ratio of -9.19 and a beta of 2.63.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). On average, analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

A number of hedge funds have recently bought and sold shares of TECX. China Universal Asset Management Co. Ltd. bought a new stake in Tectonic Therapeutic in the fourth quarter worth about $144,000. Clarius Group LLC bought a new stake in shares of Tectonic Therapeutic in the 4th quarter worth approximately $468,000. Exome Asset Management LLC lifted its stake in Tectonic Therapeutic by 12.2% in the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after purchasing an additional 3,955 shares during the last quarter. Geode Capital Management LLC grew its holdings in Tectonic Therapeutic by 147.7% during the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock valued at $2,331,000 after purchasing an additional 45,846 shares during the period. Finally, Ikarian Capital LLC increased its position in Tectonic Therapeutic by 325.1% in the third quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock worth $8,094,000 after buying an additional 204,309 shares during the last quarter. 62.63% of the stock is currently owned by institutional investors.

About Tectonic Therapeutic

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.