Tectonic Therapeutic (NASDAQ:TECX) Stock Gets Downgrade from Wall Street Zen

Tectonic Therapeutic (NASDAQ:TECX) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Sunday, Wall Street Zen reports.

Several other research analysts have also issued reports on the stock. UBS Group assumed coverage on shares of Tectonic Therapeutic in a report on Sunday, October 11th. They set a “neutral” rating and a $26.00 price target for the company. Oppenheimer restated an “outperform” rating and issued a $80.00 price target on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Zacks Research raised shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday. Finally, TD Cowen reiterated a “buy” rating on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.17.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ TECX opened at $21.15 on Friday. Tectonic Therapeutic has a 52-week low of $15.52 and a 52-week high of $39.53. The firm has a 50 day moving average price of $28.53 and a two-hundred day moving average price of $29.67. The stock has a market cap of $413.48 million, a P/E ratio of -4.63 and a beta of 3.28.

Tectonic Therapeutic (NASDAQ:TECX) last announced its earnings results on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, topping the consensus estimate of ($1.35) by $0.17. Analysts predict that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Several large investors have recently added to or reduced their stakes in TECX. BlackRock Inc. bought a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $29,652,000. First Light Asset Management LLC grew its position in shares of Tectonic Therapeutic by 23.6% during the 2nd quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock worth $27,525,000 after buying an additional 152,983 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at $2,232,000. 5AM Venture Management LLC bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at $20,853,938. Finally, Sei Investments Co. increased its stake in shares of Tectonic Therapeutic by 141.8% in the 1st quarter. Sei Investments Co. now owns 36,870 shares of the company’s stock valued at $1,140,000 after acquiring an additional 21,619 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc (NASDAQ: TECX) is a clinical-stage biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in numerous biological processes and are established targets for a range of therapeutic treatments, but many remain difficult to address with conventional drug-discovery approaches.

The company uses its proprietary GEODe platform to identify and develop antibodies and other biologic molecules designed to modulate GPCR activity.