Leerink Partners Forecasts Strong Price Appreciation for Tectonic Therapeutic (NASDAQ:TECX) Stock

Tectonic Therapeutic (NASDAQ:TECX) had its price objective increased by investment analysts at Leerink Partners from $49.00 to $69.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price objective points to a potential upside of 49.77% from the company’s previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company began coverage on Tectonic Therapeutic in a report on Thursday, August 22nd. They issued an “overweight” rating and a $55.00 target price for the company. Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tectonic Therapeutic presently has an average rating of “Buy” and an average target price of $66.67.

Tectonic Therapeutic Stock Up 4.8 %

Shares of NASDAQ TECX traded up $2.11 during midday trading on Monday, reaching $46.07. 157,186 shares of the stock traded hands, compared to its average volume of 48,433. The company has a market capitalization of $678.61 million, a PE ratio of -7.82 and a beta of 2.60. The stock has a 50 day moving average of $30.05. Tectonic Therapeutic has a one year low of $12.12 and a one year high of $47.00.

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

Insider Buying and Selling

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 50,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the acquisition, the director now directly owns 3,796,764 shares in the company, valued at $109,422,738.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Timothy A. Springer purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $28.82 per share, for a total transaction of $1,441,000.00. Following the completion of the acquisition, the director now directly owns 3,796,764 shares in the company, valued at approximately $109,422,738.48. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy A. Springer bought 300,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the purchase, the director now directly owns 4,096,764 shares of the company’s stock, valued at approximately $137,610,302.76. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tectonic Therapeutic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tectonic Therapeutic in the 3rd quarter valued at about $233,000. Nordwand Advisors LLC bought a new stake in Tectonic Therapeutic during the 3rd quarter worth $45,000. Vida Ventures Advisors LLC bought a new position in Tectonic Therapeutic during the 3rd quarter worth $31,169,000. Affinity Asset Advisors LLC acquired a new stake in Tectonic Therapeutic during the 2nd quarter worth about $961,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Tectonic Therapeutic during the second quarter valued at about $7,099,000. 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.