Tectonic Therapeutic (NASDAQ:TECX) Stock Price Down 3.2% – Here’s Why

Tectonic Therapeutic (NASDAQ:TECX)’s stock price fell 3.2% during trading on Tuesday . The stock traded as low as $48.50 and last traded at $48.99. 39,501 shares traded hands during trading, a decline of 92% from the average session volume of 477,400 shares. The stock had previously closed at $50.61.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TECX. Leerink Partners upped their target price on Tectonic Therapeutic from $49.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Raymond James initiated 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. Finally, Wells Fargo & Company upped their price target on shares of Tectonic Therapeutic from $79.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $80.50.

Tectonic Therapeutic Trading Down 9.0 %

The firm’s 50-day simple moving average is $45.64 and its two-hundred day simple moving average is $34.19. The stock has a market capitalization of $628.35 million, a PE ratio of -7.23 and a beta of 2.62.

Tectonic Therapeutic (NASDAQ:TECX) last released its earnings results on Thursday, November 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.36). As a group, research analysts expect that Tectonic Therapeutic will post -8.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TECX. Nordwand Advisors LLC acquired a new position in shares of Tectonic Therapeutic in the 3rd quarter worth approximately $45,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tectonic Therapeutic in the 4th quarter valued at $144,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Tectonic Therapeutic in the 4th quarter worth about $218,000. Raymond James Financial Inc. acquired a new stake in shares of Tectonic Therapeutic during the 4th quarter worth about $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Tectonic Therapeutic during the 3rd quarter valued at about $233,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.

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.