Tectonic Therapeutic (NASDAQ:TECX - Free Report) had its price objective hoisted by Wells Fargo & Company from $79.00 to $112.00 in a research report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.
A number of other equities analysts have also weighed in on TECX. Raymond James began coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an "outperform" rating and a $65.00 price target on the stock. Leerink Partners boosted their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $80.50.
Check Out Our Latest Report on Tectonic Therapeutic
Tectonic Therapeutic Price Performance
Tectonic Therapeutic stock traded down $2.60 during midday trading on Friday, reaching $48.01. The company had a trading volume of 410,458 shares, compared to its average volume of 494,866. Tectonic Therapeutic has a 12-month low of $13.80 and a 12-month high of $61.07. The company has a market capitalization of $708.15 million, a P/E ratio of -8.15 and a beta of 2.62. The firm's fifty day simple moving average is $45.69 and its 200-day simple moving average is $33.88.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.36). On average, analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.
Institutional Investors Weigh In On Tectonic Therapeutic
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECX. Vida Ventures Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the 3rd quarter worth about $31,169,000. Ikarian Capital LLC lifted its stake in Tectonic Therapeutic by 325.1% during the third quarter. Ikarian Capital LLC now owns 267,145 shares of the company's stock worth $8,094,000 after purchasing an additional 204,309 shares in the last quarter. FMR LLC grew its stake in shares of Tectonic Therapeutic by 13.2% in the third quarter. FMR LLC now owns 1,220,138 shares of the company's stock valued at $36,970,000 after buying an additional 142,600 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at $1,466,000. Finally, Walleye Capital LLC lifted its stake in Tectonic Therapeutic by 204.2% during the 3rd quarter. Walleye Capital LLC now owns 72,962 shares of the company's stock worth $2,211,000 after acquiring an additional 48,978 shares in the last quarter. Hedge funds and other institutional investors own 62.63% of the company's stock.
About Tectonic Therapeutic
(
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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.
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