Tectonic Therapeutic (NASDAQ:TECX) Shares Down 3.2% – Time to Sell?

Tectonic Therapeutic (NASDAQ:TECX)’s stock price dropped 3.2% on Tuesday . The stock traded as low as $48.50 and last traded at $48.99. Approximately 39,501 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 477,400 shares. The stock had previously closed at $50.61.

Analysts Set New Price Targets

A number of brokerages have issued reports on TECX. Leerink Partners raised their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Raymond James started coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tectonic Therapeutic currently has a consensus rating of “Buy” and a consensus target price of $80.50.

Tectonic Therapeutic Price Performance

The business’s 50-day moving average is $45.69 and its two-hundred day moving average is $33.88. The firm has a market cap of $726.44 million, a P/E ratio of -8.36 and a beta of 2.62.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). Equities research analysts predict that Tectonic Therapeutic will post -8.31 EPS for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors have recently modified their holdings of the business. Nordwand Advisors LLC acquired a new stake in Tectonic Therapeutic in the 3rd quarter worth about $45,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at approximately $144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tectonic Therapeutic during the third quarter worth approximately $233,000. Acuta Capital Partners LLC bought a new stake in shares of Tectonic Therapeutic during the 3rd quarter valued at $415,000. Finally, Clarius Group LLC acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter worth $468,000. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.