Tectonic Therapeutic (NASDAQ:TECX) Receives $80.50 Consensus Target Price from Brokerages

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) has been assigned an average recommendation of "Buy" from the six analysts that are presently 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 target price among brokers that have issued a report on the stock in the last year is $80.50.

Several research firms recently issued reports on TECX. Leerink Partners upped their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Wells Fargo & Company upped their target price on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Raymond James assumed coverage on Tectonic Therapeutic in a research note on Wednesday, November 20th. They issued an "outperform" rating and a $65.00 price target for the company.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ:TECX traded down $4.21 during trading on Monday, hitting $42.60. The company's stock had a trading volume of 256,577 shares, compared to its average volume of 474,912. Tectonic Therapeutic has a fifty-two week low of $13.80 and a fifty-two week high of $61.07. The stock's 50-day moving average price is $45.51 and its two-hundred day moving average price is $34.25. The company has a market capitalization of $628.35 million, a PE ratio of -7.23 and a beta of 2.62.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its 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, equities analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nordwand Advisors LLC bought a new position in shares of Tectonic Therapeutic during the third quarter worth about $45,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tectonic Therapeutic during the fourth quarter valued at approximately $144,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Tectonic Therapeutic during the fourth quarter worth approximately $218,000. Raymond James Financial Inc. bought a new position in Tectonic Therapeutic in the 4th quarter worth approximately $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tectonic Therapeutic in the 3rd quarter valued at approximately $233,000. Institutional investors and hedge funds own 62.63% of the company's stock.

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.