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

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $81.50.

TECX has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, January 22nd. Truist Financial lowered their price objective on Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Lifesci Capital raised Tectonic Therapeutic to a “strong-buy” rating in a research note on Thursday, February 5th.

Insider Transactions at Tectonic Therapeutic

In related news, insider Peter Mcnamara sold 6,262 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $30.17, for a total transaction of $188,924.54. Following the completion of the sale, the insider directly owned 55,285 shares of the company’s stock, valued at approximately $1,667,948.45. This trade represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marcella K. Ruddy sold 10,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider owned 69,747 shares in the company, valued at approximately $2,092,410. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 20,561 shares of company stock worth $597,601. 38.00% of the stock is currently owned by company insiders.

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its position in Tectonic Therapeutic by 26.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock valued at $75,000 after purchasing an additional 791 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Tectonic Therapeutic by 451.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after buying an additional 3,247 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of Tectonic Therapeutic in the second quarter valued at $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at $119,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $134,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Performance

Shares of TECX opened at $30.52 on Friday. Tectonic Therapeutic has a 12-month low of $13.70 and a 12-month high of $36.03. The firm has a market capitalization of $573.17 million, a P/E ratio of -7.54 and a beta of 3.59. The firm has a 50-day moving average price of $26.32 and a 200 day moving average price of $21.23.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, February 26th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. Equities research analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

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.