Tectonic Therapeutic (NASDAQ:TECX) Receives Average Rating of “Buy” from Brokerages

Tectonic Therapeutic (NASDAQ:TECX) has earned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $72.25.

Several research firms have recently weighed in on TECX. Raymond James started coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective for the company. Wells Fargo & Company lifted their price objective on Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Leerink Partners upped their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 11th.

Insider Activity

In other news, Director Timothy A. Springer bought 50,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were bought at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the transaction, the director now directly owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. This trade represents a 1.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.20% of the stock is currently owned by company insiders.

Institutional Trading of Tectonic Therapeutic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nordwand Advisors LLC bought a new stake in shares of Tectonic Therapeutic during the third quarter worth about $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Tectonic Therapeutic during the 3rd quarter worth $233,000. Acuta Capital Partners LLC purchased a new position in Tectonic Therapeutic during the 3rd quarter worth $415,000. Affinity Asset Advisors LLC purchased a new stake in shares of Tectonic Therapeutic in the second quarter valued at about $961,000. Finally, Renaissance Technologies LLC bought a new position in shares of Tectonic Therapeutic during the second quarter valued at about $1,466,000. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Price Performance

NASDAQ:TECX opened at $47.84 on Wednesday. The firm has a market cap of $705.57 million, a P/E ratio of -8.12 and a beta of 2.60. Tectonic Therapeutic has a fifty-two week low of $12.12 and a fifty-two week high of $50.53. The firm’s 50 day moving average price is $36.40.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.