UBS Group Upgrades Tectonic Therapeutic (NASDAQ:TECX) to “Hold”

Tectonic Therapeutic (NASDAQ:TECX) was upgraded by equities research analysts at UBS Group to a “hold” rating in a research note issued to investors on Sunday, Zacks reports.

TECX has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. TD Cowen reaffirmed a “buy” rating on shares of Tectonic Therapeutic in a research note on Wednesday, September 30th. Zacks Research raised Tectonic Therapeutic from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Friday, July 17th. Finally, Wall Street Zen raised Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a report on Saturday. Two investment 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 issued a Sell rating to the stock. According to MarketBeat.com, Tectonic Therapeutic presently has an average rating of “Moderate Buy” and a consensus target price of $69.17.

Tectonic Therapeutic Trading Down 4.7%

Shares of TECX opened at $21.31 on Friday. Tectonic Therapeutic has a twelve month low of $15.45 and a twelve month high of $39.53. The firm has a market capitalization of $416.61 million, a price-to-earnings ratio of -4.66 and a beta of 3.28. The firm’s fifty day simple moving average is $29.32 and its 200-day simple moving average is $29.92.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Thursday, August 6th. The company reported ($1.18) earnings per share for the quarter, topping the consensus estimate of ($1.35) by $0.17. On average, analysts predict that Tectonic Therapeutic will post -5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TECX. BlackRock Inc. acquired a new stake in Tectonic Therapeutic in the second quarter valued at $29,652,000. First Light Asset Management LLC lifted its holdings in Tectonic Therapeutic by 23.6% during the 2nd quarter. First Light Asset Management LLC now owns 800,726 shares of the company’s stock worth $27,525,000 after buying an additional 152,983 shares during the last quarter. 5AM Venture Management LLC acquired a new stake in shares of Tectonic Therapeutic during the 2nd quarter valued at approximately $20,853,938. Baker BROS. Advisors LP boosted its holdings in Tectonic Therapeutic by 803.4% in the fourth quarter. Baker BROS. Advisors LP now owns 903,400 shares of the company’s stock worth $18,845,000 after purchasing an additional 803,400 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Tectonic Therapeutic during the second quarter worth $2,232,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

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.