Tectonic Therapeutic (NASDAQ:TECX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Tectonic Therapeutic (NASDAQ:TECX) had its price objective boosted by analysts at Wells Fargo & Company from $55.00 to $79.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 69.02% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Leerink Partnrs raised Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. Leerink Partners lifted their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $74.67.

Tectonic Therapeutic Stock Down 2.1 %

Tectonic Therapeutic stock opened at $46.74 on Tuesday. The business’s fifty day moving average is $31.16. Tectonic Therapeutic has a fifty-two week low of $12.12 and a fifty-two week high of $48.63.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($3.81) earnings per share for the quarter, missing the consensus estimate of ($1.96) by ($1.85). On average, research analysts anticipate that Tectonic Therapeutic will post -7.76 EPS for the current year.

Insider Activity

In other news, Director Timothy A. Springer purchased 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, with a total value of $1,441,000.00. Following the completion of the transaction, the director now owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Timothy A. Springer purchased 300,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the transaction, the director now owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy A. Springer purchased 50,000 shares of the stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the transaction, the director now owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Institutional investors have recently added to or reduced their stakes in the company. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $45,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tectonic Therapeutic during the third quarter worth about $233,000. Affinity Asset Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth about $961,000. Renaissance Technologies LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth about $1,466,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter worth about $1,804,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

About Tectonic Therapeutic

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.