Tectonic Therapeutic (NASDAQ:TECX) Stock Rating Raised to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Tectonic Therapeutic (NASDAQ:TECX) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. UBS Group started coverage on shares of Tectonic Therapeutic in a research note on Sunday, October 11th. They set a “neutral” rating and a $26.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $80.00 target price on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Zacks Research raised shares of Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Wells Fargo & Company dropped their target price on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.17.

Tectonic Therapeutic Trading Up 6.3%

Shares of NASDAQ:TECX opened at $20.64 on Friday. The stock has a market capitalization of $403.51 million, a P/E ratio of -4.46 and a beta of 3.51. Tectonic Therapeutic has a 1-year low of $16.77 and a 1-year high of $39.53. The business has a 50-day moving average price of $24.29 and a two-hundred day moving average price of $28.00.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, November 5th. The company reported ($1.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.24. As a group, equities analysts predict that Tectonic Therapeutic will post -5.27 EPS for the current year.

Institutional Trading of Tectonic Therapeutic

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in Tectonic Therapeutic during the second quarter valued at approximately $34,000. Quantbot Technologies LP bought a new stake in Tectonic Therapeutic in the second quarter valued at approximately $63,000. Velan Capital Investment Management LP bought a new stake in Tectonic Therapeutic in the second quarter valued at approximately $206,000. The Manufacturers Life Insurance Company acquired a new stake in Tectonic Therapeutic in the second quarter worth $206,000. Finally, AlphaCentric Advisors LLC raised its holdings in Tectonic Therapeutic by 5.8% in the first quarter. AlphaCentric Advisors LLC now owns 6,849 shares of the company’s stock worth $212,000 after purchasing an additional 373 shares during the period. 62.63% of the stock is currently owned by institutional investors and hedge funds.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc is a clinical-stage biotechnology company focused on developing medicines that target G protein-coupled receptors (GPCRs), a large class of cell-surface proteins involved in numerous biological processes and diseases. The company seeks to address GPCRs that have historically been difficult to target with conventional drug-discovery methods.

Tectonic Therapeutic uses its proprietary GEODe platform to identify and develop antibodies and other biologic medicines against GPCRs.