Tectonic Therapeutic (TECX) to Release Earnings on Thursday

Tectonic Therapeutic (NASDAQ:TECX) is expected to be posting its quarterly earnings results before the market opens on Thursday, March 13th. Analysts expect Tectonic Therapeutic to post earnings of ($0.92) per share for the quarter.

Tectonic Therapeutic Stock Down 8.1 %

Shares of NASDAQ TECX opened at $21.31 on Tuesday. The stock’s 50 day moving average price is $36.88 and its two-hundred day moving average price is $36.33. Tectonic Therapeutic has a 52-week low of $13.80 and a 52-week high of $61.07. The stock has a market capitalization of $314.39 million, a P/E ratio of -3.62 and a beta of 2.71.

Insider Activity at Tectonic Therapeutic

In other Tectonic Therapeutic news, CFO Daniel Lochner purchased 4,617 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $54.14 per share, with a total value of $249,964.38. Following the completion of the purchase, the chief financial officer now owns 4,617 shares in the company, valued at $249,964.38. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy A. Springer acquired 129,294 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $54.14 per share, for a total transaction of $6,999,977.16. Following the completion of the purchase, the director now owns 4,226,058 shares of the company’s stock, valued at approximately $228,798,780.12. This represents a 3.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TECX. Raymond James initiated coverage on Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective on the stock. Wells Fargo & Company raised their price target on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Leerink Partners increased their price objective on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tectonic Therapeutic has an average rating of “Buy” and an average price target of $80.50.

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.