Tectonic Therapeutic (NASDAQ:TECX) Trading Up 8.2% – What’s Next?

Tectonic Therapeutic (NASDAQ:TECX)’s stock price was up 8.2% on Friday . The stock traded as high as $44.18 and last traded at $45.64. Approximately 136,546 shares were traded during trading, an increase of 11% from the average daily volume of 123,016 shares. The stock had previously closed at $42.20.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TECX shares. Raymond James started coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners boosted their target price 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tectonic Therapeutic currently has a consensus rating of “Buy” and an average price target of $72.25.

Tectonic Therapeutic Price Performance

The stock’s fifty day moving average price is $45.97 and its 200-day moving average price is $32.70. The firm has a market cap of $689.42 million, a price-to-earnings ratio of -7.94 and a beta of 2.63.

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

Institutional Trading of Tectonic Therapeutic

Institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tectonic Therapeutic in the fourth quarter valued at $144,000. Clarius Group LLC acquired a new stake in Tectonic Therapeutic during the fourth quarter worth about $468,000. Exome Asset Management LLC lifted its holdings in shares of Tectonic Therapeutic by 12.2% in the third quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after acquiring an additional 3,955 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tectonic Therapeutic by 147.7% in the third quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock worth $2,331,000 after acquiring an additional 45,846 shares during the last quarter. Finally, Ikarian Capital LLC lifted 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 worth $8,094,000 after acquiring an additional 204,309 shares during the last quarter. Institutional investors 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.