Wells Fargo & Company Issues Positive Forecast for Tectonic Therapeutic (NASDAQ:TECX) Stock Price

Tectonic Therapeutic (NASDAQ:TECX) had its target price hoisted by Wells Fargo & Company from $79.00 to $112.00 in a report issued on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

TECX has been the subject of several other research reports. Leerink Partners boosted their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Raymond James started coverage on shares of Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tectonic Therapeutic has a consensus rating of “Buy” and a consensus price target of $80.50.

Tectonic Therapeutic Stock Performance

Shares of TECX opened at $54.14 on Friday. Tectonic Therapeutic has a 52-week low of $13.80 and a 52-week high of $61.07. The stock’s 50-day simple moving average is $45.64 and its 200 day simple moving average is $33.41. The stock has a market capitalization of $798.73 million, a price-to-earnings ratio of -9.19 and a beta of 2.63.

Tectonic Therapeutic (NASDAQ:TECX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). On average, research analysts forecast that Tectonic Therapeutic will post -8.31 earnings per share for the current fiscal year.

Institutional Trading of Tectonic Therapeutic

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

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.