Brokerages Set Tectonic Therapeutic, Inc. (NASDAQ:TECX) Price Target at $82.17

Shares of Tectonic Therapeutic, Inc. (NASDAQ:TECX) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $82.1667.

TECX has been the topic of a number of recent research reports. Oppenheimer initiated coverage on Tectonic Therapeutic in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $80.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Tectonic Therapeutic in a research report on Monday, October 20th. They set an “overweight” rating and a $101.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Wednesday, October 8th.

Tectonic Therapeutic Stock Performance

Shares of Tectonic Therapeutic stock opened at $20.88 on Thursday. The firm has a 50-day moving average of $19.21 and a 200-day moving average of $19.77. Tectonic Therapeutic has a 52-week low of $13.70 and a 52-week high of $61.07. The stock has a market cap of $390.87 million, a PE ratio of -5.41 and a beta of 3.65.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.02) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.03. Equities research analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC lifted its position in shares of Tectonic Therapeutic by 919.4% in the 2nd quarter. AlphaQuest LLC now owns 2,365 shares of the company’s stock worth $47,000 after purchasing an additional 2,133 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in Tectonic Therapeutic during the 2nd quarter worth about $52,000. China Universal Asset Management Co. Ltd. raised its position in shares of Tectonic Therapeutic by 26.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 3,750 shares of the company’s stock worth $75,000 after acquiring an additional 791 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Tectonic Therapeutic by 451.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock valued at $62,000 after purchasing an additional 3,247 shares during the period. Finally, Virtus Investment Advisers LLC boosted its position in shares of Tectonic Therapeutic by 18.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,190 shares of the company’s stock valued at $83,000 after purchasing an additional 649 shares in the last quarter. 62.63% of the stock is owned by institutional investors and hedge funds.

Tectonic Therapeutic Company Profile

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.