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

Tectonic Therapeutic (NASDAQ:TECX) has received a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $72.25.

A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Leerink Partners increased their price target 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. Finally, Raymond James initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 target price on the stock.

Insider Buying and Selling

In related news, Director Timothy A. Springer bought 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average cost of $33.59 per share, for a total transaction of $10,077,000.00. Following the purchase, the director now directly owns 4,096,764 shares in the company, valued at $137,610,302.76. This trade represents a 7.90 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Tectonic Therapeutic by 13.2% during 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 period. Affinity Asset Advisors LLC bought a new stake in shares of Tectonic Therapeutic during the second quarter valued at approximately $961,000. Farallon Capital Management LLC bought a new stake in shares of Tectonic Therapeutic during the second quarter valued at approximately $7,099,000. Vida Ventures Advisors LLC bought a new position in Tectonic Therapeutic in the third quarter worth $31,169,000. Finally, Renaissance Technologies LLC acquired a new stake in Tectonic Therapeutic during the second quarter worth $1,466,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Price Performance

Shares of TECX opened at $44.06 on Friday. Tectonic Therapeutic has a 52 week low of $12.12 and a 52 week high of $53.34. The stock has a market capitalization of $650.02 million, a P/E ratio of -7.48 and a beta of 2.60. The company’s 50 day moving average is $43.44.

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.