Wall Street Zen Upgrades Tectonic Therapeutic (NASDAQ:TECX) to “Sell”

Tectonic Therapeutic (NASDAQ:TECX) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently commented on TECX. Zacks Research downgraded shares of Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Stifel Nicolaus started coverage on shares of Tectonic Therapeutic in a research report on Monday, April 13th. They issued a “buy” rating and a $75.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a report on Friday. Raymond James Financial raised shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.80.

Tectonic Therapeutic Price Performance

NASDAQ:TECX opened at $30.98 on Friday. The business’s 50 day moving average is $31.24 and its two-hundred day moving average is $28.56. Tectonic Therapeutic has a 52 week low of $14.39 and a 52 week high of $39.53. The company has a market cap of $605.66 million, a PE ratio of -6.78 and a beta of 3.28.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. As a group, sell-side analysts expect that Tectonic Therapeutic will post -5.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its position in Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after acquiring an additional 3,247 shares during the period. New York State Common Retirement Fund acquired a new position in Tectonic Therapeutic during the 2nd quarter worth $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Tectonic Therapeutic in the second quarter worth $119,000. JPMorgan Chase & Co. grew its stake 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 worth $130,000 after purchasing an additional 5,426 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Tectonic Therapeutic in the fourth quarter worth $134,000. 62.63% of the stock is owned by institutional investors.

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.