Brokerages Set Tectonic Therapeutic (NASDAQ:TECX) Price Target at $72.25

As of January 12, 2025, Tectonic Therapeutic (NASDAQ:TECX) has received strong support from analysts, earning an average recommendation of "Buy" from six different brokerage firms. Among these, five have issued a "buy" rating while one has a "strong buy" rating for the stock. The consensus 12-month price target set by these analysts stands at $72.25.

Several financial research firms have recently updated their projections for Tectonic Therapeutic. Notably, Wells Fargo & Company raised their price target from $55 to $79, giving the stock an "overweight" rating in a report released on November 12. Meanwhile, Raymond James began coverage on Tectonic Therapeutic on November 20 with an "outperform" rating and a target price of $65. Furthermore, Leerink Partners increased their price objective from $49 to $69, also assigning an "outperform" rating on November 11.

Insider Trading Activity

In related news, Director Timothy A. Springer made a significant purchase of the company's shares, acquiring 300,000 shares on October 22, for an average price of $33.59 per share. This transaction totaled approximately $10.08 million. Following this purchase, Springer now holds 4,096,764 shares, which is valued at around $137.61 million, marking a 7.90% increase in his ownership stake. This insider activity was disclosed in a required filing with the Securities and Exchange Commission.

Institutional Investors' Activity

Institutional trading for Tectonic Therapeutic has shown notable changes as well. For instance, FMR LLC increased its stake in the company by 13.2% during the third quarter, owning 1,220,138 shares after adding 142,600 shares. Affinity Asset Advisors LLC took a new position in the company valued at approximately $961,000 in the second quarter. Additionally, Farallon Capital Management LLC invested around $7.1 million, and Vida Ventures Advisors LLC acquired a new stake worth about $31.17 million during the third quarter. Geode Capital Management also made significant moves, raising their holdings by 147.7%, which amounts to a total of 76,879 shares valued at $2.33 million. Currently, institutional investors own 62.63% of Tectonic Therapeutic's stock.

Stock Performance Overview

Tectonic Therapeutic's stock has experienced fluctuations, with a recent price drop of 8.5%. As of Thursday, the stock opened at $40.16. Over the past year, it reached a low of $12.12 and a high of $53.41. The company's market capitalization stands at $592.48 million, with a price-to-earnings ratio of -6.82 and a beta of 2.63. Its 50-day moving average price is $46.57, while the 200-day moving average price is $30.93.

Company Overview

Tectonic Therapeutic is a biotechnology company that specializes in developing advanced cell and gene therapies targeted at tackling cancer and rare diseases. The company primarily operates within the United States and Canada.

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