Tectonic Therapeutic (NASDAQ:TECX) Trading 5.6% Higher – Should You Buy?

Tectonic Therapeutic, Inc. (NASDAQ:TECX)’s stock price shot up 5.6% on Tuesday . The company traded as high as $35.84 and last traded at $35.7450. Approximately 61,279 shares traded hands during trading, a decline of 77% from the average daily volume of 266,883 shares. The stock had previously closed at $33.85.

Analysts Set New Price Targets

Several research analysts have commented on TECX shares. Wall Street Zen raised shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Raymond James Financial raised Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $76.00 to $81.00 in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Zacks Research cut Tectonic Therapeutic from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company reduced their price target on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.80.

Tectonic Therapeutic Stock Performance

The company has a market cap of $705.77 million, a PE ratio of -7.82 and a beta of 3.28. The company has a fifty day moving average of $31.88 and a two-hundred day moving average of $29.18.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, topping the consensus estimate of ($1.35) by $0.17. On average, equities analysts forecast that Tectonic Therapeutic, Inc. will post -5.25 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Tectonic Therapeutic during the second quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd grew its position in Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after acquiring an additional 3,247 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Tectonic Therapeutic in the second quarter worth $63,000. New York State Common Retirement Fund purchased a new stake in Tectonic Therapeutic in the second quarter worth $99,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tectonic Therapeutic during the second quarter valued at $119,000. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

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.