Tectonic Therapeutic (NASDAQ:TECX) Given Consensus Rating of “Buy” by Brokerages

Tectonic Therapeutic (NASDAQ:TECX) has been given an average rating of “Buy” by the six brokerages that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $80.50.

A number of research firms have recently commented on TECX. Raymond James began coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Leerink Partners upped their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th.

Insider Buying and Selling

In other Tectonic Therapeutic news, CFO Daniel Lochner bought 4,617 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of $54.14 per share, with a total value of $249,964.38. Following the transaction, the chief financial officer now owns 4,617 shares in the company, valued at $249,964.38. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy A. Springer bought 129,294 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $54.14 per share, with a total value of $6,999,977.16. Following the transaction, the director now owns 4,226,058 shares in the company, valued at approximately $228,798,780.12. This represents a 3.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordwand Advisors LLC acquired a new stake in Tectonic Therapeutic in the third quarter valued at approximately $45,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tectonic Therapeutic in the third quarter valued at approximately $233,000. FMR LLC grew its position in Tectonic Therapeutic by 13.2% in the third 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 in the last quarter. Acuta Capital Partners LLC acquired a new stake in Tectonic Therapeutic in the third quarter valued at approximately $415,000. Finally, Walleye Capital LLC grew its position in Tectonic Therapeutic by 204.2% in the third quarter. Walleye Capital LLC now owns 72,962 shares of the company’s stock valued at $2,211,000 after acquiring an additional 48,978 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Down 4.3 %

Shares of Tectonic Therapeutic stock opened at $25.57 on Friday. Tectonic Therapeutic has a fifty-two week low of $13.80 and a fifty-two week high of $61.07. The firm has a market cap of $377.23 million, a PE ratio of -4.34 and a beta of 2.62. The business’s fifty day moving average is $40.44 and its two-hundred day moving average is $35.73.

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.