Tectonic Therapeutic (NASDAQ:TECX) Coverage Initiated at Mizuho

Stock analysts at Mizuho started coverage on shares of Tectonic Therapeutic (NASDAQ:TECX) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set an “outperform” rating and a $51.00 price target on the stock. Mizuho’s target price points to a potential upside of 199.65% from the company’s current price.

Separately, Wells Fargo & Company decreased their price objective on Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $72.40.

Tectonic Therapeutic Stock Performance

Shares of NASDAQ:TECX opened at $17.02 on Monday. The company has a 50 day moving average price of $22.40 and a two-hundred day moving average price of $35.71. The company has a market capitalization of $317.64 million, a PE ratio of -2.89 and a beta of 2.87. Tectonic Therapeutic has a 52 week low of $13.70 and a 52 week high of $61.07.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.55. On average, sell-side analysts forecast that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Insider Buying and Selling at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 9,478 shares of the stock in a transaction on Friday, April 11th. The shares were purchased at an average cost of $16.31 per share, for a total transaction of $154,586.18. Following the purchase, the director now owns 4,334,846 shares of the company’s stock, valued at approximately $70,701,338.26. This represents a 0.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Lochner purchased 4,617 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were acquired at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the completion of the transaction, the chief financial officer now directly owns 4,617 shares in the company, valued at approximately $249,964.38. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 234,607 shares of company stock worth $8,955,655. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Farallon Capital Management LLC boosted its holdings in shares of Tectonic Therapeutic by 37.0% in the 4th quarter. Farallon Capital Management LLC now owns 713,050 shares of the company’s stock valued at $32,922,000 after buying an additional 192,653 shares during the last quarter. Paradigm Biocapital Advisors LP bought a new stake in Tectonic Therapeutic during the fourth quarter worth $22,397,000. Balyasny Asset Management L.P. lifted its stake in Tectonic Therapeutic by 36.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 247,000 shares of the company’s stock valued at $11,404,000 after acquiring an additional 66,527 shares during the last quarter. Susquehanna International Group LLP grew its position in shares of Tectonic Therapeutic by 165.2% in the 4th quarter. Susquehanna International Group LLP now owns 166,452 shares of the company’s stock valued at $7,685,000 after acquiring an additional 103,698 shares during the period. Finally, Woodline Partners LP increased its stake in shares of Tectonic Therapeutic by 98.8% during the 4th quarter. Woodline Partners LP now owns 130,109 shares of the company’s stock worth $6,007,000 after purchasing an additional 64,661 shares during the last quarter. Institutional investors and hedge funds own 62.63% of the company’s stock.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.