Tectonic Therapeutic (NASDAQ:TECX) Sets New 12-Month High – Should You Buy?

Tectonic Therapeutic (NASDAQ:TECX)’s share price reached a new 52-week high on Monday . The company traded as high as $50.53 and last traded at $50.27, with a volume of 11299 shares trading hands. The stock had previously closed at $48.10.

Analyst Upgrades and Downgrades

TECX has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Leerink Partners upped their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Raymond James initiated coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $72.25.

Tectonic Therapeutic Price Performance

The firm has a fifty day simple moving average of $35.23.

Insiders Place Their Bets

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 50,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $28.82 per share, with a total value of $1,441,000.00. Following the acquisition, the director now owns 3,796,764 shares of the company’s stock, valued at approximately $109,422,738.48. This represents a 1.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

Institutional Trading of Tectonic Therapeutic

Several large investors have recently bought and sold shares of TECX. Nordwand Advisors LLC acquired a new stake in shares of Tectonic Therapeutic during the 3rd quarter valued at $45,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tectonic Therapeutic in the third quarter valued at approximately $233,000. Acuta Capital Partners LLC bought a new position in Tectonic Therapeutic in the 3rd quarter valued at approximately $415,000. Affinity Asset Advisors LLC bought a new position in Tectonic Therapeutic in the 2nd quarter valued at approximately $961,000. Finally, Walleye Capital LLC boosted its position in Tectonic Therapeutic by 204.2% during the 3rd quarter. Walleye Capital LLC now owns 72,962 shares of the company’s stock worth $2,211,000 after buying an additional 48,978 shares during the period. 62.63% of the stock is owned by institutional investors and hedge funds.

About Tectonic Therapeutic

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.