Brokerages Set Tectonic Therapeutic (NASDAQ:TECX) Target Price at $80.50

Shares of Tectonic Therapeutic (NASDAQ:TECX) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat.com 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 target price among brokers that have issued a report on the stock in the last year is $80.50.

TECX has been the subject of a number of analyst reports. Raymond James assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 target price for the company. Leerink Partners upped their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised their target price on Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TECX. Nordwand Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the third quarter valued at approximately $45,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tectonic Therapeutic in the 4th quarter valued at $144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tectonic Therapeutic during the 3rd quarter worth $233,000. Acuta Capital Partners LLC purchased a new position in Tectonic Therapeutic during the 3rd quarter worth $415,000. Finally, Clarius Group LLC purchased a new stake in shares of Tectonic Therapeutic in the fourth quarter valued at about $468,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.

Tectonic Therapeutic Stock Performance

Shares of Tectonic Therapeutic stock opened at $46.81 on Monday. The business has a 50-day simple moving average of $45.64 and a 200-day simple moving average of $34.19. Tectonic Therapeutic has a one year low of $13.80 and a one year high of $61.07. The company has a market cap of $690.45 million, a PE ratio of -7.95 and a beta of 2.62.

Tectonic Therapeutic (NASDAQ:TECX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.36). On average, sell-side analysts predict that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

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.