Tectonic Therapeutic (NASDAQ:TECX) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Tectonic Therapeutic (NASDAQ:TECX – Free Report) from a strong sell rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other brokerages have also weighed in on TECX. Oppenheimer reissued an “outperform” rating and set a $80.00 price objective on shares of Tectonic Therapeutic in a report on Wednesday, September 30th. Zacks Research upgraded Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a research report on Wednesday, September 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tectonic Therapeutic in a research report on Friday, July 17th. Finally, Wells Fargo & Company decreased their price target on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tectonic Therapeutic currently has an average rating of “Moderate Buy” and a consensus target price of $69.17.

Get Our Latest Research Report on Tectonic Therapeutic

Tectonic Therapeutic Price Performance

TECX stock opened at $22.35 on Friday. The stock has a market capitalization of $436.94 million, a price-to-earnings ratio of -4.89 and a beta of 3.28. The company has a 50-day moving average of $29.47 and a two-hundred day moving average of $29.99. Tectonic Therapeutic has a 52-week low of $15.45 and a 52-week high of $39.53.

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.17. Equities analysts expect that Tectonic Therapeutic will post -5.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC lifted its holdings in shares of Tectonic Therapeutic by 23.6% during the second quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock valued at $27,525,000 after acquiring an additional 152,983 shares during the period. Velan Capital Investment Management LP bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth about $206,000. Wellington Management Group LLP grew its holdings in shares of Tectonic Therapeutic by 7.5% in the 2nd quarter. Wellington Management Group LLP now owns 31,432 shares of the company’s stock worth $1,080,000 after purchasing an additional 2,192 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth about $380,000. Finally, 5AM Venture Management LLC acquired a new stake in shares of Tectonic Therapeutic during the 2nd quarter worth about $20,853,938. 62.63% of the stock is owned by institutional investors and hedge funds.

Tectonic Therapeutic Company Profile

(Get Free Report)

Tectonic Therapeutic, Inc (NASDAQ: TECX) is a clinical-stage biotechnology company developing biologic medicines that target G protein-coupled receptors (GPCRs). These receptors play important roles in numerous biological processes and are established targets for a range of therapeutic treatments, but many remain difficult to address with conventional drug-discovery approaches.

The company uses its proprietary GEODe platform to identify and develop antibodies and other biologic molecules designed to modulate GPCR activity.

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