Tectonic Therapeutic (NASDAQ:TECX) Reaches New 52-Week High – What’s Next?

Tectonic Therapeutic (NASDAQ:TECX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $55.80 and last traded at $50.34, with a volume of 2556003 shares changing hands. The stock had previously closed at $25.72.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Leerink Partners raised their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Raymond James started coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tectonic Therapeutic currently has an average rating of “Buy” and a consensus price target of $80.50.

Tectonic Therapeutic Price Performance

The company’s fifty day moving average is $45.64 and its 200 day moving average is $33.41.

Tectonic Therapeutic (NASDAQ:TECX) last issued its earnings results on Thursday, November 7th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). As a group, equities analysts expect that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Tectonic Therapeutic

Large investors have recently modified their holdings of the stock. Nordwand Advisors LLC acquired a new position in Tectonic Therapeutic in the 3rd quarter worth $45,000. China Universal Asset Management Co. Ltd. purchased a new position in Tectonic Therapeutic in the fourth quarter valued at about $144,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Tectonic Therapeutic during the 3rd quarter valued at approximately $233,000. Acuta Capital Partners LLC purchased a new stake in Tectonic Therapeutic during the 3rd quarter worth approximately $415,000. Finally, Clarius Group LLC purchased a new position in shares of Tectonic Therapeutic during the 4th quarter valued at approximately $468,000. Institutional investors and hedge funds 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.