Tectonic Therapeutic (NASDAQ:TECX) Trading Down 13.3% - What's Next?

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) shares dropped 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 trading, a decline of 89% from the average daily volume of 139,525 shares. The stock had previously closed at $41.18.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Leerink Partners upped their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Wells Fargo & Company upped their price target on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Raymond James started coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an "outperform" rating and a $65.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $80.50.

Tectonic Therapeutic Stock Down 6.2 %

The stock has a market capitalization of $749.05 million, a P/E ratio of -8.60 and a beta of 2.62. The firm's 50-day simple moving average is $45.64 and its 200 day simple moving average is $33.64.

Tectonic Therapeutic (NASDAQ:TECX - Get Free Report) last released its 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 anticipate that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Several large investors have recently modified their holdings of TECX. Nordwand Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the third quarter worth $45,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at approximately $144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tectonic Therapeutic in the 3rd quarter worth approximately $233,000. Acuta Capital Partners LLC purchased a new position in Tectonic Therapeutic during the 3rd quarter worth approximately $415,000. Finally, Clarius Group LLC acquired a new stake in Tectonic Therapeutic during the 4th quarter valued at $468,000. 62.63% of the stock is owned by institutional investors.

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.