Tectonic Therapeutic (NASDAQ:TECX) Sets New 1-Year High – Should You Buy?

Tectonic Therapeutic (NASDAQ:TECX)’s share price hit a new 52-week high on Thursday . The stock traded as high as $55.80 and last traded at $50.34, with a volume of 2556003 shares trading hands. The stock had previously closed at $25.72.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Raymond James started coverage on Tectonic Therapeutic in a report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 target price on the stock. Leerink Partners boosted their target price on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised their price target on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $80.50.

Tectonic Therapeutic Stock Performance

The stock has a 50 day moving average of $45.64 and a 200 day moving average of $33.41.

Tectonic Therapeutic (NASDAQ:TECX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.36). On average, analysts anticipate that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Investors Weigh In On Tectonic Therapeutic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nordwand Advisors LLC bought a new position in Tectonic Therapeutic in the 3rd quarter valued at about $45,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter worth approximately $144,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tectonic Therapeutic in the third quarter valued at approximately $233,000. Acuta Capital Partners LLC acquired a new position in shares of Tectonic Therapeutic during the third quarter valued at approximately $415,000. Finally, Clarius Group LLC bought a new stake in Tectonic Therapeutic during the fourth quarter worth approximately $468,000. 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.