Tectonic Therapeutic (NASDAQ:TECX) Earns Outperform Rating from Analysts at Mizuho

Mizuho began coverage on shares of Tectonic Therapeutic (NASDAQ:TECX) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $51.00 price objective on the stock.

Separately, Wells Fargo & Company reduced their price target on Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $72.40.

Tectonic Therapeutic Price Performance

Shares of NASDAQ TECX opened at $17.92 on Monday. The business has a fifty day moving average price of $22.13 and a 200 day moving average price of $35.60. Tectonic Therapeutic has a 1-year low of $13.70 and a 1-year high of $61.07. The stock has a market capitalization of $334.44 million, a P/E ratio of -3.04 and a beta of 2.87.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.55. As a group, equities research analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Insider Activity

In other Tectonic Therapeutic news, Director Timothy A. Springer acquired 3,718 shares of the firm’s stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $14.76 per share, for a total transaction of $54,877.68. Following the purchase, the director now owns 4,317,276 shares in the company, valued at approximately $63,722,993.76. The trade was a 0.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Lochner acquired 4,617 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the purchase, the chief financial officer now directly owns 4,617 shares of the company’s stock, valued at approximately $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 234,607 shares of company stock valued at $8,955,655 over the last ninety days. 9.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of institutional investors have recently modified their holdings of TECX. Geode Capital Management LLC boosted its stake in shares of Tectonic Therapeutic by 147.7% in the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock worth $2,331,000 after buying an additional 45,846 shares during the last quarter. Exome Asset Management LLC lifted its holdings in Tectonic Therapeutic by 12.2% in the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after acquiring an additional 3,955 shares during the period. Clarius Group LLC purchased a new stake in Tectonic Therapeutic in the 4th quarter worth approximately $468,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter worth approximately $144,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Tectonic Therapeutic during the 4th quarter valued at approximately $218,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

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.