Tectonic Therapeutic (NASDAQ:TECX) Shares Up 5.5% – Time to Buy?

Tectonic Therapeutic (NASDAQ:TECX) rose 5.5% during trading on Tuesday . The stock traded as high as $46.96 and last traded at $46.96. Approximately 15,591 shares were traded during trading, a decline of 71% from the average daily volume of 53,492 shares. The stock had previously closed at $44.52.

Analysts Set New Price Targets

TECX has been the topic of a number of analyst reports. Raymond James initiated coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective on the stock. Leerink Partners boosted their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lifted their price target on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Five 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, the company currently has an average rating of “Buy” and a consensus target price of $72.25.

Tectonic Therapeutic Trading Up 2.0 %

The stock has a market cap of $650.02 million, a price-to-earnings ratio of -7.48 and a beta of 2.60. The firm has a 50-day moving average price of $43.18.

Insider Buying and Selling

In related news, Director Timothy A. Springer acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the purchase, the director now owns 3,796,764 shares of the company’s stock, valued at approximately $109,422,738.48. The trade was a 1.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Nordwand Advisors LLC bought a new stake in Tectonic Therapeutic in the 3rd quarter valued at approximately $45,000. Exome Asset Management LLC grew its position in shares of Tectonic Therapeutic by 12.2% during the 3rd quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after buying an additional 3,955 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic in the 3rd quarter valued at about $233,000. Acuta Capital Partners LLC purchased a new position in shares of Tectonic Therapeutic in the 3rd quarter worth approximately $415,000. Finally, Geode Capital Management LLC grew its position in shares of Tectonic Therapeutic by 147.7% during the 3rd quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock valued at $2,331,000 after acquiring an additional 45,846 shares during the period. 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.