Tectonic Therapeutic (NASDAQ:TECX) Receives $80.50 Average PT from Analysts

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been given an average rating of “Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $80.50.

A number of analysts recently commented on TECX shares. Wells Fargo & Company boosted their price objective on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Raymond James started coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Finally, Leerink Partners raised their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th.

Tectonic Therapeutic Price Performance

TECX opened at $46.81 on Monday. Tectonic Therapeutic has a 12 month low of $13.80 and a 12 month high of $61.07. The stock has a market capitalization of $690.45 million, a P/E ratio of -7.95 and a beta of 2.62. The business has a 50 day simple moving average of $45.64 and a 200-day simple moving average of $34.19.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). Research analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vida Ventures Advisors LLC purchased a new position in Tectonic Therapeutic during the third quarter worth $31,169,000. Nordwand Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the third quarter valued at $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tectonic Therapeutic during the 3rd quarter worth about $233,000. FMR LLC raised its stake in Tectonic Therapeutic by 13.2% in the 3rd quarter. FMR LLC now owns 1,220,138 shares of the company’s stock valued at $36,970,000 after purchasing an additional 142,600 shares during the last quarter. Finally, Acuta Capital Partners LLC acquired a new position in Tectonic Therapeutic in the 3rd quarter valued at about $415,000. 62.63% of the stock is currently 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.