Tectonic Therapeutic (NASDAQ:TECX) Shares Up 5.5% – What’s Next?

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on TECX shares. Wells Fargo & Company lifted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Leerink Partners upped their price objective on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Raymond James assumed coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $72.25.

Tectonic Therapeutic Trading Up 2.0 %

The stock’s 50-day simple moving average is $43.18. The firm has a market capitalization of $650.02 million, a P/E ratio of -7.48 and a beta of 2.60.

Insider Activity at Tectonic Therapeutic

In related news, Director Timothy A. Springer purchased 300,000 shares of Tectonic Therapeutic stock in a transaction dated Tuesday, October 22nd. The stock was purchased at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the transaction, the director now owns 4,096,764 shares in the company, valued at approximately $137,610,302.76. The trade was a 7.90 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of large investors have recently added to or reduced their stakes in TECX. Nordwand Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the 3rd quarter worth $45,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tectonic Therapeutic in the 3rd quarter valued at $233,000. Acuta Capital Partners LLC purchased a new position in Tectonic Therapeutic in the 3rd quarter worth $415,000. Affinity Asset Advisors LLC acquired a new stake in Tectonic Therapeutic during the 2nd quarter worth about $961,000. Finally, Exome Asset Management LLC grew its stake in Tectonic Therapeutic by 12.2% during the 3rd quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock valued at $1,101,000 after purchasing an additional 3,955 shares during the last quarter. 62.63% of the stock is currently owned by institutional investors.

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.