Tectonic Therapeutic (NASDAQ:TECX) Reaches New 1-Year High – Time to Buy?

Tectonic Therapeutic (NASDAQ:TECX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $53.41 and last traded at $52.25, with a volume of 19113 shares traded. The stock had previously closed at $47.56.

Wall Street Analysts Forecast Growth

TECX has been the subject of several recent research reports. Leerink Partners upped their price target on shares of Tectonic Therapeutic from $49.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price objective on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Raymond James began 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. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tectonic Therapeutic presently has an average rating of “Buy” and an average target price of $72.25.

Tectonic Therapeutic Trading Up 6.0 %

The stock has a market capitalization of $743.70 million, a price-to-earnings ratio of -8.56 and a beta of 2.60. The stock has a 50 day simple moving average of $44.04.

Insider Activity at Tectonic Therapeutic

In other Tectonic Therapeutic news, Director Timothy A. Springer purchased 50,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $28.82 per share, with a total value of $1,441,000.00. Following the completion of the purchase, the director now owns 3,796,764 shares in the company, valued at $109,422,738.48. This represents a 1.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.20% of the stock is owned by corporate insiders.

Institutional Trading of Tectonic Therapeutic

Large investors have recently modified their holdings of the stock. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the 3rd quarter valued at $45,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Tectonic Therapeutic in the third quarter valued at $233,000. Acuta Capital Partners LLC acquired a new position in shares of Tectonic Therapeutic during the third quarter valued at about $415,000. Exome Asset Management LLC boosted its position in shares of Tectonic Therapeutic by 12.2% during the 3rd quarter. Exome Asset Management LLC now owns 36,344 shares of the company’s stock worth $1,101,000 after purchasing an additional 3,955 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Tectonic Therapeutic in the 2nd quarter valued at about $961,000. Institutional investors and hedge funds 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.