Tectonic Therapeutic (NASDAQ:TECX) Receives $72.25 Consensus Target Price from Analysts

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been given an average recommendation of “Buy” by the six research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $72.25.

TECX has been the topic of several research analyst reports. Leerink Partners boosted their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Raymond James assumed coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $37.83 on Thursday. The stock has a market cap of $558.11 million, a PE ratio of -6.42 and a beta of 2.63. The stock has a 50-day moving average of $46.49 and a two-hundred day moving average of $31.19. Tectonic Therapeutic has a one year low of $12.12 and a one year high of $53.41.

Insider Buying and Selling at Tectonic Therapeutic

In related news, Director Timothy A. Springer bought 300,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the purchase, the director now directly owns 4,096,764 shares of the company’s stock, valued at $137,610,302.76. This trade represents a 7.90 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Several hedge funds and other institutional investors have recently made changes to their positions in TECX. FMR LLC lifted its position in Tectonic Therapeutic by 13.2% in the third quarter. FMR LLC now owns 1,220,138 shares of the company’s stock valued at $36,970,000 after acquiring an additional 142,600 shares during the last quarter. Vida Ventures Advisors LLC purchased a new position in Tectonic Therapeutic during the 3rd quarter worth approximately $31,169,000. Farallon Capital Management LLC acquired a new position in Tectonic Therapeutic during the second quarter worth approximately $7,099,000. Atlas Venture Life Science Advisors LLC purchased a new stake in Tectonic Therapeutic in the second quarter valued at approximately $6,233,000. Finally, Ikarian Capital LLC boosted its holdings in shares of Tectonic Therapeutic by 325.1% in the third quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock valued at $8,094,000 after acquiring an additional 204,309 shares during the period. Institutional investors and hedge funds own 62.63% of the company’s stock.

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.