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

Tectonic Therapeutic (NASDAQ:TECX) has been given an average rating of “Buy” by the six brokerages that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $72.25.

Several equities analysts have recently issued reports on TECX shares. Leerink Partners boosted their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Raymond James assumed 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. Finally, Wells Fargo & Company raised their price objective on Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th.

Insider Buying and Selling

In other news, Director Timothy A. Springer bought 50,000 shares of the stock in a transaction on Thursday, September 26th. The stock was purchased at an average price of $28.82 per share, for a total transaction of $1,441,000.00. Following the acquisition, the director now owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. This trade represents a 1.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 9.20% of the stock is currently owned by company insiders.

Institutional Trading of Tectonic Therapeutic

A number of institutional investors have recently modified their holdings of TECX. Vida Ventures Advisors LLC acquired a new stake in Tectonic Therapeutic in the 3rd quarter valued at approximately $31,169,000. Farallon Capital Management LLC bought a new position in shares of Tectonic Therapeutic during the 2nd quarter worth approximately $7,099,000. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the second quarter valued at approximately $6,233,000. Ikarian Capital LLC lifted its position in shares of Tectonic Therapeutic by 325.1% in the third quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock worth $8,094,000 after purchasing an additional 204,309 shares in the last quarter. Finally, FMR LLC boosted its holdings in 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 last quarter. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ:TECX opened at $47.44 on Friday. The business’s 50 day simple moving average is $43.76. The firm has a market cap of $699.88 million, a PE ratio of -8.05 and a beta of 2.60. Tectonic Therapeutic has a one year low of $12.12 and a one year high of $53.34.

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.