Analysts Set Tectonic Therapeutic, Inc. (NASDAQ:TECX) Price Target at $79.83

Tectonic Therapeutic, Inc. (NASDAQ:TECX) has earned an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $80.6667.

TECX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Tuesday, April 21st. Stifel Nicolaus initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, April 13th. They issued a “buy” rating and a $75.00 price objective for the company. Raymond James Financial raised shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $76.00 to $81.00 in a research report on Tuesday. Wall Street Zen downgraded shares of Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Finally, Lifesci Capital raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Thursday, February 5th.

Insider Transactions at Tectonic Therapeutic

In other Tectonic Therapeutic news, insider Marcella K. Ruddy sold 1,065 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $30.00, for a total value of $31,950.00. Following the completion of the sale, the insider directly owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. This represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Mcnamara sold 6,262 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $30.17, for a total transaction of $188,924.54. Following the completion of the sale, the insider directly owned 55,285 shares of the company’s stock, valued at $1,667,948.45. The trade was a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,626 shares of company stock valued at $629,551 over the last ninety days. 39.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Tectonic Therapeutic by 24.3% during the 1st quarter. Bank of America Corp DE now owns 11,466 shares of the company’s stock valued at $354,000 after acquiring an additional 2,241 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Tectonic Therapeutic during the 1st quarter valued at approximately $431,000. First Light Asset Management LLC bought a new position in shares of Tectonic Therapeutic during the 1st quarter valued at approximately $20,022,000. Sei Investments Co. grew its position in shares of Tectonic Therapeutic by 141.8% during the 1st quarter. Sei Investments Co. now owns 36,870 shares of the company’s stock valued at $1,140,000 after acquiring an additional 21,619 shares during the period. Finally, AlphaCentric Advisors LLC grew its position in shares of Tectonic Therapeutic by 5.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,849 shares of the company’s stock valued at $212,000 after acquiring an additional 373 shares during the period. 62.63% of the stock is owned by institutional investors.

Tectonic Therapeutic Price Performance

TECX opened at $29.78 on Friday. Tectonic Therapeutic has a fifty-two week low of $14.39 and a fifty-two week high of $36.03. The firm has a market capitalization of $561.95 million, a PE ratio of -6.68 and a beta of 3.27. The company’s 50-day moving average is $29.29 and its 200 day moving average is $24.49.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Thursday, May 7th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). As a group, analysts expect that Tectonic Therapeutic will post -5.33 EPS 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.