Shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) were down 13.3% during trading on Tuesday . The company traded as low as $37.67 and last traded at $35.69. Approximately 14,718 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 139,525 shares. The stock had previously closed at $41.18.
Analyst Ratings Changes
A number of analysts recently commented on TECX shares. Leerink Partners raised their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Raymond James began coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an "outperform" rating and a $65.00 price objective for the company. Finally, Wells Fargo & Company raised their price target on Tectonic Therapeutic from $79.00 to $112.00 and gave the company an "overweight" rating in a report on Friday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $80.50.
Get Our Latest Analysis on TECX
Tectonic Therapeutic Stock Performance
The stock has a market capitalization of $798.73 million, a PE ratio of -9.19 and a beta of 2.63. The stock has a 50-day moving average price of $45.52 and a two-hundred day moving average price of $33.15.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.36). As a group, equities analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in TECX. Nordwand Advisors LLC purchased a new position in Tectonic Therapeutic in the 3rd quarter worth approximately $45,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tectonic Therapeutic during the 4th quarter worth approximately $144,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Tectonic Therapeutic during the 3rd quarter worth approximately $233,000. Acuta Capital Partners LLC purchased a new stake in shares of Tectonic Therapeutic during the 3rd quarter worth approximately $415,000. Finally, Clarius Group LLC bought a new position in shares of Tectonic Therapeutic during the 4th quarter valued at approximately $468,000. 62.63% of the stock is owned by hedge funds and other institutional investors.
About Tectonic Therapeutic
(
Get Free Report)
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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