Tectonic Therapeutic (NASDAQ:TECX) Reaches New 1-Year High at $19.88

Tectonic Therapeutic (NASDAQ:TECX) hit a new 52-week high on Thursday . The company traded as high as $19.88 and last traded at $19.80, with a volume of 126662 shares changing hands. The stock had previously closed at $19.00.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TECX shares. Leerink Partners initiated coverage on Tectonic Therapeutic in a report on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 target price for the company. Piper Sandler assumed coverage on Tectonic Therapeutic in a report on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 price objective on the stock. Wells Fargo & Company started coverage on shares of Tectonic Therapeutic in a research report on Thursday, August 22nd. They set an “overweight” rating and a $55.00 price target on the stock. Leerink Partnrs upgraded shares of Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen initiated coverage on shares of Tectonic Therapeutic in a research report on Monday, June 24th. They set a “buy” rating on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tectonic Therapeutic presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Tectonic Therapeutic Trading Up 1.4 %

The stock’s 50 day moving average price is $17.61. The company has a market capitalization of $901.47 million, a price-to-earnings ratio of 29.10 and a beta of 2.59.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($3.81) earnings per share for the quarter, missing the consensus estimate of ($1.96) by ($1.85). Equities research analysts predict that Tectonic Therapeutic will post -4.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Several hedge funds have recently made changes to their positions in TECX. Farallon Capital Management LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter valued at about $7,099,000. Atlas Venture Life Science Advisors LLC purchased a new stake in Tectonic Therapeutic in the second quarter valued at approximately $6,233,000. Acadian Asset Management LLC acquired a new position in Tectonic Therapeutic in the 2nd quarter worth approximately $1,804,000. Renaissance Technologies LLC purchased a new position in Tectonic Therapeutic during the 2nd quarter worth approximately $1,466,000. Finally, Affinity Asset Advisors LLC acquired a new stake in Tectonic Therapeutic during the 2nd quarter valued at approximately $961,000. 62.63% of the stock is currently owned by hedge funds and other institutional investors.

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.