Wells Fargo & Company Issues Positive Forecast for Tectonic Therapeutic (NASDAQ:TECX) Stock Price

Tectonic Therapeutic (NASDAQ:TECX) had its price target raised by Wells Fargo & Company from $79.00 to $112.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on TECX. Leerink Partners boosted their price target on Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Raymond James assumed coverage on shares of Tectonic Therapeutic in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $65.00 price target for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $80.50.

Tectonic Therapeutic Trading Down 1.3 %

Tectonic Therapeutic stock opened at $54.14 on Friday. Tectonic Therapeutic has a 12 month low of $13.80 and a 12 month high of $61.07. The stock has a fifty day simple moving average of $45.64 and a two-hundred day simple moving average of $33.41. The firm has a market cap of $798.73 million, a price-to-earnings ratio of -9.19 and a beta of 2.63.

Tectonic Therapeutic (NASDAQ:TECX) last posted its earnings results 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, equities research analysts forecast that Tectonic Therapeutic will post -8.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Tectonic Therapeutic

Institutional investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Tectonic Therapeutic by 13.2% in the third quarter. FMR LLC now owns 1,220,138 shares of the company’s stock valued at $36,970,000 after purchasing an additional 142,600 shares in the last quarter. Geode Capital Management LLC increased its stake in Tectonic Therapeutic by 147.7% in the 3rd quarter. Geode Capital Management LLC now owns 76,879 shares of the company’s stock worth $2,331,000 after buying an additional 45,846 shares during the period. Vida Ventures Advisors LLC bought a new stake in shares of Tectonic Therapeutic during the third quarter valued at approximately $31,169,000. Renaissance Technologies LLC purchased a new stake in shares of Tectonic Therapeutic in the 2nd quarter worth $1,466,000. Finally, Walleye Capital LLC lifted its stake in shares of Tectonic Therapeutic by 204.2% during the 3rd quarter. Walleye Capital LLC now owns 72,962 shares of the company’s stock worth $2,211,000 after purchasing an additional 48,978 shares during the last quarter. 62.63% of the stock is owned by hedge funds and other 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.