Analysts Set Tectonic Therapeutic (NASDAQ:TECX) PT at $74.67

Tectonic Therapeutic (NASDAQ:TECX) has received an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $72.25.

Several brokerages have weighed in on TECX. Wells Fargo & Company increased their price objective on Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. 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 target for the company. Finally, Leerink Partners boosted their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th.

Insider Transactions at Tectonic Therapeutic

In related news, Director Timothy A. Springer purchased 300,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $33.59 per share, for a total transaction of $10,077,000.00. Following the completion of the transaction, the director now directly owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. This represents a 7.90 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nordwand Advisors LLC bought a new position in Tectonic Therapeutic in the 3rd quarter valued at $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Tectonic Therapeutic in the third quarter worth $233,000. Acuta Capital Partners LLC bought a new stake in Tectonic Therapeutic during the third quarter valued at $415,000. Affinity Asset Advisors LLC purchased a new position in Tectonic Therapeutic during the second quarter worth about $961,000. Finally, Renaissance Technologies LLC bought a new position in Tectonic Therapeutic in the 2nd quarter worth about $1,466,000. Institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Up 7.2 %

Tectonic Therapeutic stock opened at $48.10 on Wednesday. The company’s 50 day moving average is $35.23. Tectonic Therapeutic has a twelve month low of $12.12 and a twelve month high of $48.63. The company has a market cap of $709.62 million, a P/E 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.