Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives Average Rating of “Moderate Buy” from Analysts

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $79.8333.

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Stifel Nicolaus assumed coverage on shares of Tectonic Therapeutic in a research report on Monday, April 13th. They set a “buy” rating and a $75.00 price target on the stock. Lifesci Capital raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st.

Tectonic Therapeutic Trading Up 2.1%

NASDAQ TECX opened at $29.12 on Friday. The firm’s fifty day moving average price is $29.53 and its two-hundred day moving average price is $24.11. Tectonic Therapeutic has a 1 year low of $14.39 and a 1 year high of $36.03. The firm has a market capitalization of $549.47 million, a P/E ratio of -6.53 and a beta of 3.27.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.18). On average, research analysts anticipate that Tectonic Therapeutic will post -5.33 EPS for the current fiscal year.

Insider Buying and Selling at Tectonic Therapeutic

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $30.00, for a total transaction of $31,950.00. Following the sale, the insider directly owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Mcnamara sold 6,262 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $30.17, for a total transaction of $188,924.54. Following the sale, the insider directly owned 55,285 shares in the company, valued at $1,667,948.45. This trade represents a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,626 shares of company stock worth $629,551 over the last ninety days. Insiders own 39.80% of the company’s stock.

Hedge Funds Weigh In On Tectonic Therapeutic

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after purchasing an additional 3,247 shares during the period. New York State Common Retirement Fund bought a new position in shares of Tectonic Therapeutic in the second quarter valued at about $99,000. China Universal Asset Management Co. Ltd. raised its position in shares of Tectonic Therapeutic by 83.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,880 shares of the company’s stock valued at $108,000 after purchasing an additional 3,130 shares during the period. AlphaQuest LLC raised its position in shares of Tectonic Therapeutic by 208.6% in the third quarter. AlphaQuest LLC now owns 7,299 shares of the company’s stock valued at $115,000 after purchasing an additional 4,934 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Tectonic Therapeutic in the second quarter valued at about $119,000. 62.63% of the stock is owned by institutional investors.

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.