Tectonic Therapeutic (NASDAQ:TECX) Issues Earnings Results, Beats Estimates By $0.24 EPS

Tectonic Therapeutic (NASDAQ:TECX) announced its quarterly earnings data on Thursday. The company reported ($1.08) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.24, Zacks reports.

Tectonic Therapeutic Stock Performance

Shares of TECX stock traded up $1.22 on Friday, hitting $20.64. The company had a trading volume of 308,035 shares, compared to its average volume of 178,108. Tectonic Therapeutic has a twelve month low of $16.77 and a twelve month high of $39.53. The firm has a market cap of $403.51 million, a P/E ratio of -4.46 and a beta of 3.51. The stock’s 50-day moving average is $24.29 and its two-hundred day moving average is $28.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Zacks Research raised shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Thursday, October 15th. Oppenheimer reiterated an “outperform” rating and set a $80.00 price objective on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tectonic Therapeutic currently has an average rating of “Moderate Buy” and a consensus price target of $69.17.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing medicines that target G protein-coupled receptors (GPCRs), a large class of cell-surface proteins involved in numerous biological processes and diseases. The company seeks to address GPCRs that have historically been difficult to target with conventional drug-discovery methods.

Tectonic Therapeutic uses its proprietary GEODe platform to identify and develop antibodies and other biologic medicines against GPCRs.