Tectonic Therapeutic (NASDAQ:TECX - Get Free Report)'s share price was up 6.7% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $79.00 to $112.00. Wells Fargo & Company currently has an overweight rating on the stock. Tectonic Therapeutic traded as high as $59.50 and last traded at $58.49. Approximately 62,960 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 471,088 shares. The stock had previously closed at $54.84.
A number of other research firms have also weighed in on TECX. Raymond James started 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 upped their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Five analysts have rated the stock with a buy rating and one has issued 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 target price of $80.50.
Check Out Our Latest Analysis on Tectonic Therapeutic
Hedge Funds Weigh In On Tectonic Therapeutic
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vida Ventures Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the third quarter worth about $31,169,000. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the third quarter valued at approximately $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Tectonic Therapeutic during the third quarter worth approximately $233,000. FMR LLC lifted its holdings in shares of Tectonic Therapeutic by 13.2% during the third quarter. FMR LLC now owns 1,220,138 shares of the company's stock worth $36,970,000 after purchasing an additional 142,600 shares during the period. Finally, Acuta Capital Partners LLC purchased a new position in Tectonic Therapeutic in the 3rd quarter valued at $415,000. 62.63% of the stock is owned by institutional investors and hedge funds.
Tectonic Therapeutic Trading Down 5.1 %
The company has a market capitalization of $708.15 million, a price-to-earnings ratio of -8.15 and a beta of 2.62. The firm's 50 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 announced its quarterly earnings data 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, sell-side analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.
Tectonic Therapeutic Company Profile
(
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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