Tectonic Therapeutic (NASDAQ:TECX) Receives $77.75 Average Target Price from Analysts

Tectonic Therapeutic (NASDAQ:TECX) has been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $77.75.

Separately, Wells Fargo & Company reduced their target price on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, March 21st.

Insider Activity

In other news, Director Timothy A. Springer acquired 129,294 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $54.14 per share, for a total transaction of $6,999,977.16. Following the acquisition, the director now directly owns 4,226,058 shares in the company, valued at approximately $228,798,780.12. This represents a 3.16 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel Lochner bought 4,617 shares of Tectonic Therapeutic stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the acquisition, the chief financial officer now directly owns 4,617 shares of the company’s stock, valued at $249,964.38. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

A number of institutional investors and hedge funds have recently bought and sold shares of TECX. Jefferies Financial Group Inc. acquired a new position in Tectonic Therapeutic during the fourth quarter valued at approximately $249,000. Woodline Partners LP raised its stake in shares of Tectonic Therapeutic by 98.8% in the 4th quarter. Woodline Partners LP now owns 130,109 shares of the company’s stock valued at $6,007,000 after acquiring an additional 64,661 shares during the period. Soleus Capital Management L.P. acquired a new position in shares of Tectonic Therapeutic during the 4th quarter valued at $1,470,000. Stempoint Capital LP purchased a new stake in Tectonic Therapeutic during the 4th quarter worth $436,000. Finally, Paradigm Biocapital Advisors LP acquired a new stake in Tectonic Therapeutic in the 4th quarter valued at $22,397,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Down 5.0 %

Shares of NASDAQ TECX opened at $17.71 on Tuesday. The company’s 50-day moving average price is $30.36 and its 200 day moving average price is $36.67. Tectonic Therapeutic has a 52 week low of $15.00 and a 52 week high of $61.07. The stock has a market cap of $330.52 million, a price-to-earnings ratio of -3.01 and a beta of 2.71.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.55. As a group, research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

About Tectonic Therapeutic

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.