Analysts Set Tectonic Therapeutic (NASDAQ:TECX) Target Price at $72.25

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has given 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.

Several equities research analysts recently commented on TECX shares. Leerink Partners boosted their price objective 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. Raymond James initiated coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Finally, 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 note on Tuesday, November 12th.

Tectonic Therapeutic Stock Performance

Tectonic Therapeutic stock opened at $47.53 on Friday. Tectonic Therapeutic has a fifty-two week low of $12.12 and a fifty-two week high of $53.34. The firm’s 50 day moving average price is $42.94. The company has a market cap of $701.21 million, a PE ratio of -8.07 and a beta of 2.60.

Insider Buying and Selling at Tectonic Therapeutic

In related news, Director Timothy A. Springer acquired 50,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the acquisition, the director now directly owns 3,796,764 shares in the company, valued at $109,422,738.48. This represents a 1.33 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Tectonic Therapeutic

Several large investors have recently made changes to their positions in the company. FMR LLC lifted its position 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 purchasing an additional 142,600 shares during the last quarter. Vida Ventures Advisors LLC bought a new position in shares of Tectonic Therapeutic in the 3rd quarter valued at about $31,169,000. Farallon Capital Management LLC purchased a new position in Tectonic Therapeutic in the second quarter worth about $7,099,000. Atlas Venture Life Science Advisors LLC bought a new stake in Tectonic Therapeutic during the second quarter worth approximately $6,233,000. Finally, Ikarian Capital LLC raised its position in 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 purchasing an additional 204,309 shares during the period. 62.63% of the stock is 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.