Tectonic Therapeutic (NASDAQ:TECX) Price Target Raised to $112.00

Tectonic Therapeutic (NASDAQ:TECX) had its price target increased by Wells Fargo & Company from $79.00 to $112.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Raymond James initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Leerink Partners boosted their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tectonic Therapeutic has an average rating of “Buy” and a consensus price target of $80.50.

Tectonic Therapeutic Price Performance

Shares of TECX stock opened at $54.14 on Friday. The firm’s 50-day moving average is $45.64 and its two-hundred day moving average is $33.64. Tectonic Therapeutic has a 12 month low of $13.80 and a 12 month high of $61.07. The company has a market capitalization of $798.57 million, a PE ratio of -9.19 and a beta of 2.63.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). Sell-side analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TECX. Vida Ventures Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the third quarter valued at approximately $31,169,000. Ikarian Capital LLC grew its holdings in shares of Tectonic Therapeutic by 325.1% in 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 in the last quarter. FMR LLC grew its holdings in shares of Tectonic Therapeutic by 13.2% in 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 in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Tectonic Therapeutic in the second quarter valued at approximately $1,466,000. Finally, Walleye Capital LLC grew its holdings in Tectonic Therapeutic by 204.2% during the 3rd quarter. Walleye Capital LLC now owns 72,962 shares of the company’s stock worth $2,211,000 after acquiring an additional 48,978 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

About Tectonic Therapeutic

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.