Tectonic Therapeutic (NASDAQ:TECX) Releases Quarterly Earnings Results, Beats Expectations By $0.55 EPS

Tectonic Therapeutic (NASDAQ:TECX) released its quarterly earnings data on Thursday. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.55, Zacks reports.

Tectonic Therapeutic Price Performance

NASDAQ:TECX opened at $21.15 on Monday. The firm has a market cap of $312.03 million, a PE ratio of -3.59 and a beta of 2.71. The company has a 50-day moving average of $32.84 and a 200 day moving average of $36.59. Tectonic Therapeutic has a 1-year low of $15.00 and a 1-year high of $61.07.

Insider Buying and Selling at Tectonic Therapeutic

In other Tectonic Therapeutic news, CFO Daniel Lochner purchased 4,617 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average price of $54.14 per share, for a total transaction of $249,964.38. Following the acquisition, the chief financial officer now owns 4,617 shares in the company, valued at $249,964.38. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy A. Springer purchased 129,294 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average price of $54.14 per share, for a total transaction of $6,999,977.16. Following the acquisition, the director now owns 4,226,058 shares in the company, valued at $228,798,780.12. This trade represents a 3.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 9.20% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their price objective on shares of Tectonic Therapeutic from $112.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tectonic Therapeutic has an average rating of “Buy” and a consensus price target of $77.75.

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.