Tectonic Therapeutic (NASDAQ:TECX) Hits New 1-Year High at $19.88

Tectonic Therapeutic (NASDAQ:TECX)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $19.88 and last traded at $19.80, with a volume of 126662 shares traded. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

TECX has been the subject of several research reports. Leerink Partnrs upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Leerink Partners began coverage on shares of Tectonic Therapeutic in a report on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 target price for the company. Piper Sandler began coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 target price for the company. Wells Fargo & Company began coverage on shares of Tectonic Therapeutic in a report on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 target price for the company. Finally, TD Cowen began coverage on shares of Tectonic Therapeutic in a report on Monday, June 24th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $60.00.

Tectonic Therapeutic Stock Up 4.2 %

The company has a 50 day moving average price of $17.48. The stock has a market cap of $888.90 million, a price-to-earnings ratio of 28.70 and a beta of 2.59.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($3.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.96) by ($1.85). Analysts predict that Tectonic Therapeutic will post -4.91 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Affinity Asset Advisors LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $961,000. Renaissance Technologies LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $1,466,000. Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $6,233,000. Finally, Farallon Capital Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth about $7,099,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

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.