Tectonic Therapeutic, Inc. (NASDAQ:TECX) Stock Has Average Price Target of $77.25

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $77.25.

TECX has been the subject of a number of recent research reports. Oppenheimer reissued an “outperform” rating on shares of Tectonic Therapeutic in a research report on Tuesday, September 1st. Wells Fargo & Company dropped their price objective on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. Zacks Research upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th.

Institutional Investors Weigh In On Tectonic Therapeutic

Large investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP increased its stake in Tectonic Therapeutic by 803.4% during the 4th quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock worth $18,845,000 after acquiring an additional 803,400 shares during the period. BlackRock Inc. bought a new stake in shares of Tectonic Therapeutic during the 2nd quarter valued at $29,652,000. First Light Asset Management LLC grew its holdings in shares of Tectonic Therapeutic by 23.6% during the 2nd quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock worth $27,525,000 after purchasing an additional 152,983 shares in the last quarter. 5AM Venture Management LLC increased its position in shares of Tectonic Therapeutic by 18.6% in the fourth quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock worth $12,655,000 after purchasing an additional 95,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tectonic Therapeutic in the second quarter worth $2,232,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Price Performance

TECX opened at $23.51 on Friday. The business has a fifty day simple moving average of $30.90 and a 200 day simple moving average of $30.63. The company has a market capitalization of $459.62 million, a PE ratio of -5.14 and a beta of 3.31. Tectonic Therapeutic has a 1 year low of $14.60 and a 1 year high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.17. Equities analysts anticipate that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in many physiological processes but have historically been difficult to address with conventional antibody-based therapies.

The company uses its proprietary GEODe platform to discover and develop antibodies and other biologics designed to modulate GPCR activity. Tectonic’s pipeline includes TX45, an investigational therapeutic intended to activate the relaxin receptor RXFP1.