Tectonic Therapeutic (NASDAQ:TECX) Upgraded at UBS Group

UBS Group upgraded shares of Tectonic Therapeutic (NASDAQ:TECX) to a hold rating in a research note issued to investors on Sunday,Zacks reports.

TECX has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Friday, July 17th. Wells Fargo & Company reduced their price target on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Zacks Research raised Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. TD Cowen reissued a “buy” rating on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $80.00 price target on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tectonic Therapeutic has a consensus rating of “Moderate Buy” and an average target price of $69.17.

Tectonic Therapeutic Trading Down 4.7%

TECX opened at $21.31 on Friday. The business’s 50 day moving average is $29.32 and its 200-day moving average is $29.92. The stock has a market cap of $416.61 million, a PE ratio of -4.66 and a beta of 3.28. Tectonic Therapeutic has a twelve month low of $15.45 and a twelve month high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.17. As a group, analysts forecast that Tectonic Therapeutic will post -5.27 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc acquired a new position in shares of Tectonic Therapeutic during the second quarter valued at approximately $34,000. Quantbot Technologies LP acquired a new stake in Tectonic Therapeutic in the second quarter worth approximately $63,000. The Manufacturers Life Insurance Company bought a new position in Tectonic Therapeutic during the 2nd quarter valued at $206,000. Velan Capital Investment Management LP bought a new position in Tectonic Therapeutic during the 2nd quarter valued at $206,000. Finally, AlphaCentric Advisors LLC boosted its stake in 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 purchasing an additional 373 shares in the last quarter. 62.63% of the stock is owned by institutional investors and hedge funds.

About Tectonic Therapeutic

Tectonic Therapeutic, Inc (NASDAQ: TECX) is a clinical-stage biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in numerous biological processes and are established targets for a range of therapeutic treatments, but many remain difficult to address with conventional drug-discovery approaches.

The company uses its proprietary GEODe platform to identify and develop antibodies and other biologic molecules designed to modulate GPCR activity.