Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Has Average Target Price of $69.17

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $69.17.

A number of brokerages recently issued reports on TECX. Wall Street Zen upgraded Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 7th. Oppenheimer reiterated an “outperform” rating and set a $80.00 target price on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Wells Fargo & Company reduced their target price on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, TD Cowen reissued a “buy” rating on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jump Financial LLC increased its stake in Tectonic Therapeutic by 39.5% in the 3rd quarter. Jump Financial LLC now owns 60,534 shares of the company’s stock worth $1,410,000 after acquiring an additional 17,134 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Tectonic Therapeutic by 159.4% in the 3rd quarter. Marshall Wace LLP now owns 446,511 shares of the company’s stock valued at $10,399,000 after acquiring an additional 274,410 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Tectonic Therapeutic by 294.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,978 shares of the company’s stock valued at $512,000 after acquiring an additional 16,411 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Tectonic Therapeutic by 35.2% during the 3rd quarter. Alps Advisors Inc. now owns 25,886 shares of the company’s stock valued at $603,000 after acquiring an additional 6,739 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Tectonic Therapeutic by 95.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,767 shares of the company’s stock valued at $251,000 after acquiring an additional 5,264 shares during the last quarter. 62.63% of the stock is owned by institutional investors.

Tectonic Therapeutic Price Performance

Shares of TECX stock traded up $0.10 on Friday, hitting $21.14. The stock had a trading volume of 300,638 shares, compared to its average volume of 177,765. The business has a 50 day moving average of $23.30 and a 200 day moving average of $28.05. The stock has a market cap of $421.74 million, a price-to-earnings ratio of -4.57 and a beta of 3.51. Tectonic Therapeutic has a 12-month low of $16.77 and a 12-month high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($1.08) EPS for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.24. As a group, research analysts expect that Tectonic Therapeutic will post -4.89 earnings per share for the current fiscal year.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic is a biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs), a broad class of proteins involved in many biological processes. Its GEODe platform is designed to identify and engineer antibodies and other biologics that act on GPCRs. The company’s lead clinical program, TX000045, is an antibody designed to activate the apelin receptor. Tectonic is developing it for pulmonary arterial hypertension, a serious condition affecting the blood vessels in the lungs.