Tectonic Therapeutic, Inc. (NASDAQ:TECX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have been given a consensus recommendation of “Buy” by the seven ratings firms that are 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 analysts that have updated their coverage on the stock in the last year is $79.40.

Several brokerages have recently commented on TECX. Stifel Nicolaus started coverage on shares of Tectonic Therapeutic in a research note on Monday, April 13th. They issued a “buy” rating and a $75.00 target price on the stock. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $76.00 to $81.00 in a research report on Tuesday, May 26th. Wall Street Zen cut Tectonic Therapeutic from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Tuesday, April 21st.

Insider Buying and Selling at Tectonic Therapeutic

In other news, insider Marcella K. Ruddy sold 1,065 shares of Tectonic Therapeutic stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.00, for a total transaction of $31,950.00. Following the completion of the sale, the insider owned 67,682 shares of the company’s stock, valued at approximately $2,030,460. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aberdeen Group plc raised its stake in Tectonic Therapeutic by 220.6% in the fourth quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock valued at $23,818,000 after purchasing an additional 785,648 shares in the last quarter. Braidwell LP raised its stake in Tectonic Therapeutic by 25.9% in the fourth quarter. Braidwell LP now owns 927,524 shares of the company’s stock valued at $19,348,000 after purchasing an additional 190,657 shares in the last quarter. Baker BROS. Advisors LP raised its stake in Tectonic Therapeutic by 803.4% in the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock valued at $18,845,000 after purchasing an additional 803,400 shares in the last quarter. First Light Asset Management LLC acquired a new position in Tectonic Therapeutic in the first quarter valued at about $20,022,000. Finally, 5AM Venture Management LLC raised its stake in Tectonic Therapeutic by 18.6% in the fourth quarter. 5AM Venture Management LLC now owns 606,660 shares of the company’s stock valued at $12,655,000 after purchasing an additional 95,000 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Trading Up 0.2%

Shares of Tectonic Therapeutic stock opened at $30.06 on Thursday. The company’s fifty day simple moving average is $28.97 and its 200-day simple moving average is $25.47. The company has a market cap of $567.23 million, a price-to-earnings ratio of -6.74 and a beta of 3.19. Tectonic Therapeutic has a 1 year low of $14.39 and a 1 year high of $36.03.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly 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, research analysts forecast that Tectonic Therapeutic will post -5.46 earnings per share for the current fiscal 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.