Tectonic Therapeutic (NASDAQ:TECX) Releases Earnings Results

by · The Markets Daily

Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.08, Zacks reports.

Tectonic Therapeutic Trading Up 1.2 %

TECX stock traded up $0.26 during midday trading on Thursday, hitting $22.18. 182,974 shares of the company’s stock were exchanged, compared to its average volume of 161,621. The firm has a 50 day moving average price of $33.65 and a 200-day moving average price of $36.44. Tectonic Therapeutic has a 12-month low of $15.00 and a 12-month high of $61.07. The stock has a market capitalization of $327.22 million, a price-to-earnings ratio of -3.77 and a beta of 2.71.

Insider Activity

In related news, CFO Daniel Lochner acquired 4,617 shares of Tectonic Therapeutic stock in a transaction on Wednesday, February 5th. The shares were purchased at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the purchase, the chief financial officer now directly owns 4,617 shares of the company’s stock, valued at $249,964.38. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy A. Springer acquired 129,294 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $54.14 per share, with a total value of $6,999,977.16. Following the completion of the acquisition, the director now owns 4,226,058 shares in the company, valued at $228,798,780.12. This represents a 3.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TECX. Raymond James initiated coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $80.50.

View Our Latest Stock Analysis on Tectonic Therapeutic

About Tectonic Therapeutic

(Get Free Report)

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.

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