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

Tectonic Therapeutic (NASDAQ:TECX) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $72.25.

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

Tectonic Therapeutic Trading Up 8.2 %

Shares of TECX stock opened at $41.13 on Thursday. The firm has a fifty day simple moving average of $46.39 and a two-hundred day simple moving average of $31.34. Tectonic Therapeutic has a 12 month low of $12.12 and a 12 month high of $53.41. The firm has a market capitalization of $606.79 million, a PE ratio of -6.98 and a beta of 2.63.

Insiders Place Their Bets

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 300,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $137,610,302.76. This represents a 7.90 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.20% of the stock is currently owned by insiders.

Institutional Trading of Tectonic Therapeutic

A number of hedge funds have recently bought and sold shares of TECX. 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 position in shares of Tectonic Therapeutic in the 3rd quarter worth about $233,000. Acuta Capital Partners LLC bought a new position in Tectonic Therapeutic during the third quarter valued at about $415,000. Affinity Asset Advisors LLC purchased a new stake in Tectonic Therapeutic during the second quarter worth about $961,000. Finally, Exome Asset Management LLC raised its position in Tectonic Therapeutic by 12.2% in the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after acquiring an additional 3,955 shares during the period. 62.63% of the stock is currently owned by institutional investors.

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.