Analysts Set Tectonic Therapeutic (NASDAQ:TECX) PT at $80.50

Shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) have been assigned an average recommendation of "Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $80.50.

A number of brokerages have recently commented on TECX. Leerink Partners increased their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Wells Fargo & Company increased their price target on Tectonic Therapeutic from $79.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Raymond James initiated coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an "outperform" rating and a $65.00 price objective on the stock.

Tectonic Therapeutic Trading Down 7.4 %

TECX stock traded down $1.87 on Friday, hitting $23.41. 222,337 shares of the company's stock traded hands, compared to its average volume of 411,681. The stock has a market cap of $345.37 million, a price-to-earnings ratio of -3.97 and a beta of 2.62. Tectonic Therapeutic has a 1-year low of $13.80 and a 1-year high of $61.07. The stock has a fifty day moving average of $40.00 and a 200-day moving average of $36.07.

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Insider Activity

In other Tectonic Therapeutic news, CFO Daniel Lochner acquired 4,617 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was purchased at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the transaction, the chief financial officer now owns 4,617 shares of the company's stock, valued at $249,964.38. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy A. Springer bought 129,294 shares of the stock in a transaction on Wednesday, February 5th. The shares were acquired at an average cost of $54.14 per share, for a total transaction of $6,999,977.16. Following the purchase, the director now owns 4,226,058 shares in the company, valued at approximately $228,798,780.12. This represents a 3.16 % 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP acquired a new position in shares of Tectonic Therapeutic in the fourth quarter worth $22,397,000. Ikarian Capital LLC lifted its holdings in shares of Tectonic Therapeutic by 325.1% during the 3rd quarter. Ikarian Capital LLC now owns 267,145 shares of the company's stock valued at $8,094,000 after buying an additional 204,309 shares during the last quarter. Farallon Capital Management LLC grew its stake in shares of Tectonic Therapeutic by 37.0% in the 4th quarter. Farallon Capital Management LLC now owns 713,050 shares of the company's stock valued at $32,922,000 after buying an additional 192,653 shares in the last quarter. FMR LLC increased its holdings in Tectonic Therapeutic by 13.2% in the third quarter. FMR LLC now owns 1,220,138 shares of the company's stock worth $36,970,000 after buying an additional 142,600 shares during the last quarter. Finally, Invesco Ltd. bought a new position in Tectonic Therapeutic during the fourth quarter valued at approximately $5,918,000. Hedge funds and other 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.