Tectonic Therapeutic (NASDAQ:TECX) Stock Price Up 6.7% Following Analyst Upgrade

Tectonic Therapeutic (NASDAQ:TECX)’s share price traded up 6.7% on Friday after Wells Fargo & Company raised their price target on the stock from $79.00 to $112.00. Wells Fargo & Company currently has an overweight rating on the stock. Tectonic Therapeutic traded as high as $59.50 and last traded at $58.49. 62,960 shares traded hands during trading, a decline of 87% from the average session volume of 471,088 shares. The stock had previously closed at $54.84.

TECX has been the subject of several other reports. Raymond James started coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target for the company. Leerink Partners lifted their target price on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $80.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nordwand Advisors LLC acquired a new stake in Tectonic Therapeutic in the third quarter valued at $45,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tectonic Therapeutic in the 4th quarter valued at about $144,000. Exome Asset Management LLC boosted its holdings in Tectonic Therapeutic by 12.2% during the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after buying an additional 3,955 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tectonic Therapeutic during the third quarter worth about $233,000. Finally, Clarius Group LLC purchased a new position in Tectonic Therapeutic in the fourth quarter valued at about $468,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Down 1.3 %

The stock’s fifty day simple moving average is $45.64 and its 200-day simple moving average is $33.52. The company has a market capitalization of $798.57 million, a PE ratio of -9.19 and a beta of 2.63.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.36). Analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current year.

Tectonic Therapeutic Company Profile

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.