Tectonic Therapeutic (NASDAQ:TECX) Upgraded to “Strong-Buy” at Lifesci Capital

Tectonic Therapeutic (NASDAQ:TECX) was upgraded by investment analysts at Lifesci Capital to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

TECX has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a research note on Thursday, January 22nd. Wells Fargo & Company began coverage on shares of Tectonic Therapeutic in a research note on Monday, October 20th. They issued an “overweight” rating and a $101.00 target price for the company. Finally, Truist Financial dropped their price target on shares of Tectonic Therapeutic from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

Tectonic Therapeutic Stock Down 1.6%

Tectonic Therapeutic stock opened at $22.86 on Thursday. The firm has a fifty day moving average of $20.29 and a 200-day moving average of $19.63. Tectonic Therapeutic has a 52-week low of $13.70 and a 52-week high of $47.35. The firm has a market capitalization of $427.94 million, a P/E ratio of -5.92 and a beta of 3.71.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Thursday, November 6th. The company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.03. On average, research analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc increased its position in shares of Tectonic Therapeutic by 220.6% in the 4th quarter. Aberdeen Group plc now owns 1,141,824 shares of the company’s stock worth $23,818,000 after purchasing an additional 785,648 shares during the last quarter. Braidwell LP acquired a new position in Tectonic Therapeutic in the third quarter worth about $11,561,000. Millennium Management LLC increased its holdings in Tectonic Therapeutic by 726.4% in the first quarter. Millennium Management LLC now owns 237,938 shares of the company’s stock valued at $4,214,000 after buying an additional 209,145 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in Tectonic Therapeutic in the third quarter valued at about $3,276,000. Finally, First Light Asset Management LLC acquired a new stake in Tectonic Therapeutic during the third quarter valued at approximately $3,176,000. 62.63% of the stock is currently owned by institutional investors.

Tectonic Therapeutic Company Profile

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.