Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently weighed in on the stock. TD Cowen reissued a “buy” rating on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. 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 reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Thursday, October 15th. Wells Fargo & Company dropped their price objective 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. Finally, Oppenheimer reissued an “outperform” rating and set a $80.00 price objective on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.17.

View Our Latest Analysis on Tectonic Therapeutic

Tectonic Therapeutic Stock Performance

TECX opened at $20.64 on Friday. Tectonic Therapeutic has a fifty-two week low of $16.77 and a fifty-two week high of $39.53. The firm has a 50-day moving average of $24.29 and a 200 day moving average of $28.00. The firm has a market cap of $403.51 million, a P/E ratio of -4.46 and a beta of 3.51.

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($1.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.24. Equities research analysts predict that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Tectonic Therapeutic in the second quarter valued at approximately $29,652,000. First Light Asset Management LLC lifted its stake 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 valued at $27,525,000 after buying an additional 152,983 shares in the last quarter. 5AM Venture Management LLC purchased a new stake in shares of Tectonic Therapeutic during the 2nd quarter valued at approximately $20,853,938. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic in the 2nd quarter worth approximately $2,232,000. Finally, Sei Investments Co. boosted its holdings in Tectonic Therapeutic by 141.8% in the 1st quarter. Sei Investments Co. now owns 36,870 shares of the company’s stock worth $1,140,000 after buying an additional 21,619 shares during the period. 62.63% of the stock is owned by hedge funds and other institutional investors.

About Tectonic Therapeutic

(Get Free Report)

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.

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