Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives $79.40 Average Target Price from Analysts

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $77.80.

TECX has been the topic of a number of recent research reports. Raymond James Financial raised shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $76.00 to $81.00 in a research note on Tuesday, May 26th. Wells Fargo & Company lowered their target price on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Wall Street Zen raised shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Finally, Zacks Research downgraded Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in Tectonic Therapeutic by 726.4% during the 1st quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock valued at $4,214,000 after acquiring an additional 209,145 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tectonic Therapeutic by 331.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,793 shares of the company’s stock worth $1,856,000 after acquiring an additional 80,483 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Tectonic Therapeutic by 58.7% in the first quarter. Jane Street Group LLC now owns 47,145 shares of the company’s stock valued at $835,000 after purchasing an additional 17,443 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tectonic Therapeutic by 242.5% in the second quarter. Geode Capital Management LLC now owns 272,257 shares of the company’s stock valued at $5,411,000 after purchasing an additional 192,770 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Tectonic Therapeutic by 483.6% in the second quarter. JPMorgan Chase & Co. now owns 6,548 shares of the company’s stock valued at $130,000 after purchasing an additional 5,426 shares during the last quarter. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Down 2.6%

Shares of NASDAQ:TECX opened at $31.87 on Friday. Tectonic Therapeutic has a twelve month low of $14.39 and a twelve month high of $39.53. The stock’s 50 day moving average is $31.40 and its 200-day moving average is $28.75. The firm has a market capitalization of $623.06 million, a price-to-earnings ratio of -6.97 and a beta of 3.28.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.35) by $0.17. Equities research analysts anticipate that Tectonic Therapeutic will post -5.32 earnings per share for the current fiscal year.

Tectonic Therapeutic Company Profile

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.