Tectonic Therapeutic (NASDAQ:TECX – Get Free Report)’s share price dropped 7% on Tuesday . The company traded as low as $28.14 and last traded at $28.19. Approximately 27,728 shares were traded during trading, a decline of 24% from the average daily volume of 36,586 shares. The stock had previously closed at $30.30.
Analyst Ratings Changes
TECX has been the topic of a number of recent research reports. Piper Sandler initiated coverage on shares of Tectonic Therapeutic in a report on Wednesday, June 26th. They set an “overweight” rating and a $76.00 price target on the stock. TD Cowen initiated coverage on shares of Tectonic Therapeutic in a report on Monday, June 24th. They set a “buy” rating on the stock. Wells Fargo & Company initiated coverage on shares of Tectonic Therapeutic in a report on Thursday, August 22nd. They set an “overweight” rating and a $55.00 price target on the stock. Leerink Partners initiated coverage on shares of Tectonic Therapeutic in a report on Wednesday, July 24th. They set an “outperform” rating and a $49.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $60.00.
Get Our Latest Research Report on Tectonic Therapeutic
Tectonic Therapeutic Price Performance
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($3.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.96) by ($1.85). As a group, sell-side analysts expect that Tectonic Therapeutic will post -4.91 earnings per share for the current fiscal year.
Insider Activity at Tectonic Therapeutic
In other news, Director Timothy A. Springer bought 50,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the purchase, the director now owns 3,796,764 shares of the company’s stock, valued at approximately $109,422,738.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.20% of the stock is currently owned by company insiders.
Institutional Trading of Tectonic Therapeutic
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Affinity Asset Advisors LLC acquired a new stake in Tectonic Therapeutic in the 2nd quarter worth $961,000. Renaissance Technologies LLC acquired a new stake in Tectonic Therapeutic in the 2nd quarter worth $1,466,000. Acadian Asset Management LLC acquired a new stake in Tectonic Therapeutic in the 2nd quarter worth $1,804,000. Atlas Venture Life Science Advisors LLC acquired a new stake in Tectonic Therapeutic in the 2nd quarter worth $6,233,000. Finally, Farallon Capital Management LLC acquired a new stake in Tectonic Therapeutic in the 2nd quarter worth $7,099,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.
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.
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