Tectonic Therapeutic (NASDAQ:TECX) Price Target Raised to $79.00 at Wells Fargo & Company

Tectonic Therapeutic (NASDAQ:TECX) had its price target hoisted by Wells Fargo & Company from $55.00 to $79.00 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

TECX has been the topic of a number of other reports. Leerink Partnrs raised Tectonic Therapeutic to a “strong-buy” rating in a research note on Wednesday, July 24th. Leerink Partners upped their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $74.67.

Tectonic Therapeutic Trading Up 3.6 %

Shares of TECX opened at $47.75 on Tuesday. The stock has a 50-day moving average price of $30.59. Tectonic Therapeutic has a 12-month low of $12.12 and a 12-month high of $47.99. The firm has a market cap of $703.36 million, a PE ratio of -7.74 and a beta of 2.60.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results on Wednesday, August 14th. The company reported ($3.81) EPS for the quarter, missing the consensus estimate of ($1.96) by ($1.85). As a group, equities analysts forecast that Tectonic Therapeutic will post -4.91 earnings per share for the current fiscal year.

Insider Transactions at Tectonic Therapeutic

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

Hedge Funds Weigh In On Tectonic Therapeutic

Several large investors have recently added to or reduced their stakes in the business. Nordwand Advisors LLC purchased a new stake in shares of Tectonic Therapeutic in the third quarter worth approximately $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tectonic Therapeutic in the 3rd quarter valued at $233,000. Affinity Asset Advisors LLC purchased a new stake in Tectonic Therapeutic in the 2nd quarter valued at $961,000. Renaissance Technologies LLC purchased a new position in Tectonic Therapeutic during the 2nd quarter worth $1,466,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Tectonic Therapeutic in the second quarter valued at about $1,804,000. 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.