Tectonic Therapeutic (NASDAQ:TECX) Trading 4.6% Higher

Tectonic Therapeutic (NASDAQ:TECX)’s stock price shot up 4.6% during mid-day trading on Wednesday . The stock traded as high as $16.96 and last traded at $16.96. 372 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 23,855 shares. The stock had previously closed at $16.22.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen initiated coverage on Tectonic Therapeutic in a research note on Monday, June 24th. They issued a “buy” rating for the company. Leerink Partnrs raised Tectonic Therapeutic to a “strong-buy” rating in a research report on Wednesday, July 24th. Piper Sandler started coverage on shares of Tectonic Therapeutic in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $76.00 target price on the stock. Finally, SVB Leerink assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, July 24th. They issued an “outperform” rating and a $49.00 price target for the company.

Tectonic Therapeutic Stock Up 0.8 %

The company has a market capitalization of $734.02 million, a price-to-earnings ratio of 23.51 and a beta of 2.63.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of hedge funds have recently bought and sold shares of TECX. Renaissance Technologies LLC bought a new position in shares of Tectonic Therapeutic in the second quarter worth approximately $1,466,000. Farallon Capital Management LLC purchased a new stake in Tectonic Therapeutic during the 2nd quarter valued at $7,099,000. Atlas Venture Life Science Advisors LLC bought a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth $6,233,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Tectonic Therapeutic in the second quarter worth $1,804,000. Institutional investors own 62.63% of the company’s stock.

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.