Tectonic Therapeutic (NASDAQ:TECX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Tectonic Therapeutic (NASDAQ:TECX) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $72.25.

A number of brokerages have weighed in on TECX. Raymond James assumed coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target for the company. Leerink Partners lifted their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company increased their price target on Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th.

Insider Buying and Selling

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 300,000 shares of Tectonic Therapeutic stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the transaction, the director now owns 4,096,764 shares in the company, valued at $137,610,302.76. This trade represents a 7.90 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Tectonic Therapeutic Stock Performance

NASDAQ:TECX opened at $48.10 on Wednesday. Tectonic Therapeutic has a 52 week low of $12.12 and a 52 week high of $48.63. The company has a fifty day moving average price of $35.23. The company has a market cap of $709.62 million, a price-to-earnings ratio of -8.17 and a beta of 2.60.

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.