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

Tectonic Therapeutic (NASDAQ:TECX) had its price objective boosted by Wells Fargo & Company from $55.00 to $79.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently commented on TECX. Leerink Partnrs raised shares of Tectonic Therapeutic to a “strong-buy” rating in a report on Wednesday, July 24th. Leerink Partners boosted their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday. Four 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, Tectonic Therapeutic presently has an average rating of “Buy” and a consensus price target of $74.67.

Tectonic Therapeutic Stock Up 3.6 %

NASDAQ TECX opened at $47.75 on Tuesday. The business’s fifty day simple moving average is $30.59. The company has a market cap of $703.36 million, a PE ratio of -7.74 and a beta of 2.60. Tectonic Therapeutic has a one year low of $12.12 and a one year high of $47.99.

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

Insider Activity at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer bought 300,000 shares of the stock in a transaction on 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 acquisition, the director now directly owns 4,096,764 shares of the company’s stock, valued at $137,610,302.76. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Timothy A. Springer bought 50,000 shares of the stock in a transaction on Thursday, September 26th. The shares were acquired at an average cost of $28.82 per share, for a total transaction of $1,441,000.00. Following the purchase, the director now directly owns 3,796,764 shares of the company’s stock, valued at $109,422,738.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy A. Springer purchased 300,000 shares of Tectonic Therapeutic stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average price of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the transaction, the director now directly owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tectonic Therapeutic

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