Tectonic Therapeutic (NASDAQ:TECX) Reaches New 12-Month High - Still a Buy?

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $45.50 and last traded at $45.10, with a volume of 23830 shares. The stock had previously closed at $44.85.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Tectonic Therapeutic in a report on Thursday, August 22nd. They set an "overweight" rating and a $55.00 price target on the stock. Leerink Partners assumed coverage on Tectonic Therapeutic in a report on Wednesday, July 24th. They set an "outperform" rating and a $49.00 price target on the stock. Finally, Leerink Partnrs upgraded Tectonic Therapeutic to a "strong-buy" rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tectonic Therapeutic currently has an average rating of "Buy" and a consensus target price of $60.00.

Tectonic Therapeutic Price Performance

The business's fifty day moving average is $29.03.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing the consensus estimate of ($1.96) by ($1.85). Equities analysts expect that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.

Insider Activity at Tectonic Therapeutic

In related news, Director Timothy A. Springer bought 50,000 shares of Tectonic Therapeutic stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the acquisition, the director now directly owns 3,796,764 shares of the company's stock, valued at approximately $109,422,738.48. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 50,000 shares of the company's stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the purchase, the director now owns 3,796,764 shares in the company, valued at $109,422,738.48. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy A. Springer purchased 300,000 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $33.59 per share, for a total transaction of $10,077,000.00. Following the completion of the purchase, the director now owns 4,096,764 shares of the company's stock, valued at approximately $137,610,302.76. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tectonic Therapeutic

Several institutional investors have recently added to or reduced their stakes in TECX. Nordwand Advisors LLC acquired a new position in Tectonic Therapeutic in the third quarter valued at approximately $45,000. Affinity Asset Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $961,000. Renaissance Technologies LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $1,466,000. Acadian Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $1,804,000. Finally, Atlas Venture Life Science Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth approximately $6,233,000. 62.63% of the stock is owned by institutional investors and hedge funds.

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.