Tectonic Therapeutic (NASDAQ:TECX) Receives Average Recommendation of “Buy” from Analysts

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been given a consensus rating of “Buy” by the six research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $72.25.

Several equities analysts have commented on TECX shares. Wells Fargo & Company lifted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Raymond James started coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, Leerink Partners raised their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 11th.

Insiders Place Their Bets

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 300,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the transaction, the director now directly owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. This trade represents a 7.90 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TECX. Nordwand Advisors LLC purchased a new stake in shares of Tectonic Therapeutic in the third quarter worth about $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tectonic Therapeutic in the 3rd quarter worth approximately $233,000. Acuta Capital Partners LLC bought a new position in Tectonic Therapeutic in the 3rd quarter valued at $415,000. Affinity Asset Advisors LLC purchased a new position in shares of Tectonic Therapeutic during the 2nd quarter valued at $961,000. Finally, Exome Asset Management LLC increased its holdings in shares of Tectonic Therapeutic by 12.2% in the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after purchasing an additional 3,955 shares during the period. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

Tectonic Therapeutic Price Performance

Shares of TECX stock opened at $43.87 on Thursday. Tectonic Therapeutic has a one year low of $12.12 and a one year high of $53.41. The company has a market cap of $647.21 million, a P/E ratio of -7.45 and a beta of 2.63. The firm has a 50-day moving average of $46.53 and a 200-day moving average of $30.57.

About Tectonic Therapeutic

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.