Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) saw strong trading volume on Friday . 29,747 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 25,613 shares.The stock last traded at $20.10 and had previously closed at $19.80.
Analyst Ratings Changes
Several research firms recently weighed in on TECX. Leerink Partners initiated coverage on Tectonic Therapeutic in a research note on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 price target on the stock. Wells Fargo & Company assumed coverage on Tectonic Therapeutic in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 price objective on the stock. TD Cowen began coverage on shares of Tectonic Therapeutic in a research report on Monday, June 24th. They issued a “buy” rating on the stock. Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler began coverage on shares of Tectonic Therapeutic in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $60.00.
Read Our Latest Analysis on TECX
Tectonic Therapeutic Stock Up 1.0 %
Tectonic Therapeutic (NASDAQ:TECX – Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.96) by ($1.85). As a group, analysts forecast that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.
Institutional Investors Weigh In On Tectonic Therapeutic
A number of hedge funds and other institutional investors have recently modified their holdings of TECX. Acadian Asset Management LLC bought a new stake in Tectonic Therapeutic in the second quarter valued at about $1,804,000. Atlas Venture Life Science Advisors LLC bought a new position in shares of Tectonic Therapeutic during the 2nd quarter valued at about $6,233,000. Renaissance Technologies LLC acquired a new stake in shares of Tectonic Therapeutic during the 2nd quarter valued at $1,466,000. Affinity Asset Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the 2nd quarter valued at $961,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Tectonic Therapeutic in the second quarter worth approximately $7,099,000. 62.63% of the stock is currently owned by hedge funds and other 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.
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