Tectonic Therapeutic (NASDAQ:TECX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Tectonic Therapeutic (NASDAQ:TECX) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on TECX. Raymond James Financial upgraded shares of Tectonic Therapeutic from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $76.00 to $81.00 in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Tectonic Therapeutic from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Wells Fargo & Company decreased their price target on shares of Tectonic Therapeutic from $101.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tectonic Therapeutic in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.80.

Tectonic Therapeutic Stock Up 1.2%

Shares of TECX stock opened at $37.04 on Tuesday. The firm has a market capitalization of $724.13 million, a P/E ratio of -8.11 and a beta of 3.28. Tectonic Therapeutic has a twelve month low of $14.39 and a twelve month high of $39.53. The stock’s fifty day simple moving average is $32.22 and its 200 day simple moving average is $29.41.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Thursday, August 6th. The company reported ($1.18) EPS for the quarter, beating the consensus estimate of ($1.35) by $0.17. As a group, equities research analysts expect that Tectonic Therapeutic will post -5.25 EPS for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

A number of large investors have recently bought and sold shares of TECX. Legal & General Group Plc bought a new position in shares of Tectonic Therapeutic in the 2nd quarter worth about $34,000. Quantbot Technologies LP acquired a new stake in Tectonic Therapeutic during the second quarter worth approximately $63,000. Caitong International Asset Management Co. Ltd increased its holdings in Tectonic Therapeutic by 451.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,966 shares of the company’s stock worth $62,000 after purchasing an additional 3,247 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Tectonic Therapeutic in the second quarter valued at approximately $99,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Tectonic Therapeutic in the second quarter valued at approximately $206,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

About Tectonic Therapeutic

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.