Tectonic Therapeutic (NASDAQ:TECX) Sets New 52-Week High – What’s Next?

Tectonic Therapeutic (NASDAQ:TECX) reached a new 52-week high during trading on Monday . The stock traded as high as $50.53 and last traded at $50.27, with a volume of 11299 shares. The stock had previously closed at $48.10.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TECX shares. Raymond James assumed coverage on shares of Tectonic Therapeutic in a research note on Wednesday, November 20th. They set an “outperform” rating and a $65.00 target price on the stock. Leerink Partners upped 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. Finally, Wells Fargo & Company lifted their target price on shares of Tectonic Therapeutic from $55.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tectonic Therapeutic currently has a consensus rating of “Buy” and a consensus price target of $72.25.

Tectonic Therapeutic Stock Performance

The business has a fifty day moving average of $36.40.

Insider Activity

In other news, Director Timothy A. Springer acquired 300,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $33.59 per share, with a total value of $10,077,000.00. Following the completion of the acquisition, the director now owns 4,096,764 shares of the company’s stock, valued at $137,610,302.76. The trade was a 7.90 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Tectonic Therapeutic

A number of institutional investors have recently modified their holdings of TECX. Vida Ventures Advisors LLC purchased a new stake in Tectonic Therapeutic during the 3rd quarter valued at approximately $31,169,000. Farallon Capital Management LLC purchased a new stake in Tectonic Therapeutic during the second quarter worth $7,099,000. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Tectonic Therapeutic during the 2nd quarter worth $6,233,000. Ikarian Capital LLC increased its holdings in Tectonic Therapeutic by 325.1% during the 3rd quarter. Ikarian Capital LLC now owns 267,145 shares of the company’s stock valued at $8,094,000 after acquiring an additional 204,309 shares in the last quarter. Finally, FMR LLC lifted 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. 62.63% of the stock is owned by institutional investors and hedge funds.

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.