Tectonic Therapeutic (NASDAQ:TECX) Stock Price Expected to Rise, Leerink Partners Analyst Says

Tectonic Therapeutic (NASDAQ:TECX) had its price target hoisted by Leerink Partners from $49.00 to $69.00 in a research report report published on Monday morning,Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

A number of other equities analysts have also commented on the company. Wells Fargo & Company assumed coverage on Tectonic Therapeutic in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 price objective on the stock. Leerink Partnrs upgraded Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $74.67.

Tectonic Therapeutic Stock Performance

NASDAQ TECX opened at $46.74 on Monday. Tectonic Therapeutic has a fifty-two week low of $12.12 and a fifty-two week high of $48.63. The company’s 50-day moving average is $31.16.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Wednesday, August 14th. The company reported ($3.81) earnings per share for the quarter, missing the consensus estimate of ($1.96) by ($1.85). Analysts anticipate that Tectonic Therapeutic will post -7.76 earnings per share for the current fiscal year.

Insider Transactions at Tectonic Therapeutic

In other news, Director Timothy A. Springer bought 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the transaction, the director now directly owns 4,096,764 shares in the company, valued at $137,610,302.76. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Timothy A. Springer bought 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the transaction, the director now directly owns 4,096,764 shares in the company, valued at $137,610,302.76. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy A. Springer bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the transaction, the director now owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of institutional investors have recently added to or reduced their stakes in TECX. Acadian Asset Management LLC acquired a new stake in Tectonic Therapeutic during the second quarter worth about $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new stake in Tectonic Therapeutic during the second quarter valued at approximately $6,233,000. Renaissance Technologies LLC acquired a new stake in Tectonic Therapeutic during the second quarter valued at approximately $1,466,000. Farallon Capital Management LLC acquired a new stake in Tectonic Therapeutic during the second quarter valued at approximately $7,099,000. Finally, Affinity Asset Advisors LLC acquired a new stake in Tectonic Therapeutic during the second quarter valued at approximately $961,000. 62.63% of the stock is owned by institutional investors and hedge funds.

About Tectonic Therapeutic

Avrobio, Inc is a bio-technology company. It develops step-change cell and gene therapies for the treatment of cancer and rare disease. The company operates primarily in the United States and Canada. Avrobio, Inc is based in MA, United States.