Tectonic Therapeutic (NASDAQ:TECX) Receives Consensus Recommendation of “Buy” from Analysts

Tectonic Therapeutic (NASDAQ:TECX) has been given a consensus recommendation of “Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $72.25.

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

Tectonic Therapeutic Stock Up 7.7 %

Shares of NASDAQ TECX opened at $47.44 on Friday. The company’s 50 day moving average is $43.76. The firm has a market capitalization of $699.88 million, a PE ratio of -8.05 and a beta of 2.60. Tectonic Therapeutic has a 52 week low of $12.12 and a 52 week high of $53.34.

Insider Buying and Selling at Tectonic Therapeutic

In other news, Director Timothy A. Springer acquired 300,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the acquisition, the director now directly owns 4,096,764 shares in the company, valued at $137,610,302.76. This represents a 7.90 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.20% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vida Ventures Advisors LLC bought a new position in shares of Tectonic Therapeutic during the third quarter worth approximately $31,169,000. Farallon Capital Management LLC acquired a new stake in Tectonic Therapeutic during the second quarter worth approximately $7,099,000. Atlas Venture Life Science Advisors LLC bought a new position in Tectonic Therapeutic during the 2nd quarter worth $6,233,000. Ikarian Capital LLC raised its holdings in Tectonic Therapeutic by 325.1% in the 3rd quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock valued at $8,094,000 after acquiring an additional 204,309 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Tectonic Therapeutic by 13.2% during the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company’s stock valued at $36,970,000 after acquiring an additional 142,600 shares during the period. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

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.