Shares of Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) gapped up prior to trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $55.00 to $79.00. The stock had previously closed at $46.07, but opened at $47.99. Wells Fargo & Company currently has an overweight rating on the stock. Tectonic Therapeutic shares last traded at $45.07, with a volume of 17,108 shares changing hands.
Several other research firms have also recently commented on TECX. Leerink Partners upped their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an "outperform" rating in a report on Monday. Leerink Partnrs raised shares of 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $74.67.
Check Out Our Latest Stock Analysis on Tectonic Therapeutic
Insider Buying and Selling at Tectonic Therapeutic
In other news, Director Timothy A. Springer acquired 50,000 shares of the stock in a transaction on Thursday, September 26th. The stock was bought at an average price of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the transaction, the director now directly owns 3,796,764 shares of the company's stock, valued at $109,422,738.48. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Timothy A. Springer acquired 50,000 shares of the stock in a transaction dated 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 transaction, the director now owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy A. Springer acquired 300,000 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the acquisition, the director now directly owns 4,096,764 shares of the company's stock, valued at $137,610,302.76. The trade was 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 insiders.
Institutional Trading of Tectonic Therapeutic
A number of hedge funds have recently bought and sold shares of TECX. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tectonic Therapeutic in the 3rd quarter valued at approximately $233,000. Nordwand Advisors LLC purchased a new stake in shares of Tectonic Therapeutic in the third quarter valued at approximately $45,000. Vida Ventures Advisors LLC acquired a new position in Tectonic Therapeutic during the third quarter worth $31,169,000. Affinity Asset Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the second quarter valued at $961,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Tectonic Therapeutic during the second quarter worth about $7,099,000. Institutional investors own 62.63% of the company's stock.
Tectonic Therapeutic Trading Up 3.6 %
The firm has a market capitalization of $703.36 million, a P/E ratio of -7.74 and a beta of 2.60. The stock's fifty day simple moving average is $30.59.
Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($3.81) earnings per share for the quarter, missing the consensus estimate of ($1.96) by ($1.85). Research analysts forecast that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.
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.
Featured Articles
Before you consider Tectonic Therapeutic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tectonic Therapeutic wasn't on the list.
While Tectonic Therapeutic currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
