Tectonic Therapeutic (NASDAQ:TECX) Coverage Initiated by Analysts at Mizuho

Mizuho initiated coverage on shares of Tectonic Therapeutic (NASDAQ:TECX - Free Report) in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $51.00 price target on the stock.

Separately, Wells Fargo & Company decreased their price objective on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tectonic Therapeutic currently has a consensus rating of "Buy" and a consensus price target of $72.40.

Tectonic Therapeutic Stock Up 14.5 %

NASDAQ TECX traded up $2.84 during trading on Monday, reaching $22.38. 645,438 shares of the stock traded hands, compared to its average volume of 174,864. Tectonic Therapeutic has a fifty-two week low of $13.70 and a fifty-two week high of $61.07. The firm has a market cap of $417.68 million, a price-to-earnings ratio of -3.80 and a beta of 2.87. The stock's 50-day moving average price is $21.24 and its 200 day moving average price is $35.31.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.55. Analysts anticipate that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Insider Activity at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 9,478 shares of Tectonic Therapeutic stock in a transaction on Friday, April 11th. The shares were purchased at an average price of $16.31 per share, with a total value of $154,586.18. Following the acquisition, the director now owns 4,334,846 shares in the company, valued at $70,701,338.26. This trade represents a 0.22 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Lochner purchased 4,617 shares of the stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average cost of $54.14 per share, with a total value of $249,964.38. Following the acquisition, the chief financial officer now directly owns 4,617 shares in the company, valued at $249,964.38. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 234,607 shares of company stock valued at $8,955,655 over the last quarter. 9.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tectonic Therapeutic

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Tectonic Therapeutic by 147.7% in the 3rd quarter. Geode Capital Management LLC now owns 76,879 shares of the company's stock valued at $2,331,000 after buying an additional 45,846 shares during the last quarter. Clarius Group LLC acquired a new stake in Tectonic Therapeutic during the 4th quarter valued at approximately $468,000. Charles Schwab Investment Management Inc. bought a new position in Tectonic Therapeutic during the 4th quarter worth approximately $218,000. Commonwealth Equity Services LLC acquired a new position in shares of Tectonic Therapeutic in the 4th quarter worth approximately $231,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $228,000. Institutional investors own 62.63% of the company's stock.

About Tectonic Therapeutic

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.