Tectonic Therapeutic (NASDAQ:TECX) Receives $77.75 Consensus Price Target from Analysts

Shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) have been given an average rating of "Buy" by the six analysts that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $77.75.

Separately, Wells Fargo & Company reduced their price target on Tectonic Therapeutic from $112.00 to $101.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st.

Tectonic Therapeutic Stock Performance

TECX stock traded down $0.26 during trading on Tuesday, reaching $18.65. 156,802 shares of the company traded hands, compared to its average volume of 166,983. The company has a market capitalization of $348.06 million, a price-to-earnings ratio of -3.17 and a beta of 2.71. The business has a 50 day simple moving average of $31.27 and a 200 day simple moving average of $36.39. Tectonic Therapeutic has a 12 month low of $15.00 and a 12 month high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.55. As a group, research analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current year.

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Insiders Place Their Bets

In other news, CFO Daniel Lochner bought 4,617 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average cost of $54.14 per share, with a total value of $249,964.38. Following the transaction, the chief financial officer now directly owns 4,617 shares in the company, valued at approximately $249,964.38. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy A. Springer bought 129,294 shares of Tectonic Therapeutic stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of $54.14 per share, with a total value of $6,999,977.16. Following the purchase, the director now directly owns 4,226,058 shares in the company, valued at $228,798,780.12. The trade was a 3.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.20% of the company's stock.

Hedge Funds Weigh In On Tectonic Therapeutic

Several hedge funds and other institutional investors have recently bought and sold shares of TECX. JPMorgan Chase & Co. lifted its stake in Tectonic Therapeutic by 5,554.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,244 shares of the company's stock valued at $57,000 after acquiring an additional 1,222 shares during the period. Virtus ETF Advisers LLC acquired a new position in Tectonic Therapeutic during the fourth quarter valued at $71,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tectonic Therapeutic in the fourth quarter valued at $144,000. Charles Schwab Investment Management Inc. acquired a new stake in Tectonic Therapeutic during the 4th quarter worth about $218,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Tectonic Therapeutic during the 4th quarter valued at about $228,000. Institutional investors and hedge funds 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.