Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $69.17.

A number of brokerages recently issued reports on TECX. Oppenheimer restated an “outperform” rating and issued a $80.00 price objective on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. UBS Group assumed coverage on shares of Tectonic Therapeutic in a report on Sunday, October 11th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, October 15th.

Institutional Inflows and Outflows

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

Tectonic Therapeutic Price Performance

Shares of TECX opened at $20.34 on Wednesday. The firm has a market cap of $397.63 million, a PE ratio of -4.45 and a beta of 3.28. The stock’s fifty day moving average price is $26.99 and its two-hundred day moving average price is $27.99. Tectonic Therapeutic has a 1 year low of $15.52 and a 1 year high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. Sell-side analysts anticipate that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing medicines that target G protein-coupled receptors (GPCRs), a large class of cell-surface proteins involved in numerous biological processes and diseases. The company seeks to address GPCRs that have historically been difficult to target with conventional drug-discovery methods.

Tectonic Therapeutic uses its proprietary GEODe platform to identify and develop antibodies and other biologic medicines against GPCRs.