Tectonic Therapeutic, Inc. (NASDAQ:TECX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $81.50.

TECX has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday. Wells Fargo & Company started coverage on shares of Tectonic Therapeutic in a research report on Monday, October 20th. They set an “overweight” rating and a $101.00 target price on the stock. Finally, Truist Financial dropped their price target on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 8th.

Institutional Trading of Tectonic Therapeutic

Several hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its position in shares of Tectonic Therapeutic by 919.4% during the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock valued at $47,000 after acquiring an additional 2,133 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Tectonic Therapeutic in the second quarter valued at $52,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Tectonic Therapeutic by 26.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after buying an additional 791 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Tectonic Therapeutic by 451.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after acquiring an additional 3,247 shares during the period. Finally, Virtus Investment Advisers LLC increased its holdings in Tectonic Therapeutic by 18.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock worth $83,000 after acquiring an additional 649 shares during the last quarter. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Up 5.8%

TECX stock opened at $20.16 on Monday. The firm has a market capitalization of $377.40 million, a PE ratio of -5.22 and a beta of 3.72. Tectonic Therapeutic has a twelve month low of $13.70 and a twelve month high of $61.07. The stock’s 50 day moving average is $19.99 and its 200-day moving average is $19.66.

Tectonic Therapeutic (NASDAQ:TECX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.03. On average, equities research analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.