Tectonic Therapeutic (TECX) Projected to Post Quarterly Earnings on Thursday

Tectonic Therapeutic (NASDAQ:TECX) is expected to be posting its quarterly earnings results before the market opens on Thursday, March 13th. Analysts expect Tectonic Therapeutic to post earnings of ($0.92) per share for the quarter.

Tectonic Therapeutic Trading Up 6.1 %

TECX opened at $22.60 on Wednesday. The stock has a market cap of $333.42 million, a PE ratio of -3.84 and a beta of 2.71. Tectonic Therapeutic has a 1 year low of $13.80 and a 1 year high of $61.07. The stock’s 50 day simple moving average is $36.40 and its 200-day simple moving average is $36.36.

Insiders Place Their Bets

In other Tectonic Therapeutic news, CFO Daniel Lochner purchased 4,617 shares of the stock in a transaction on Wednesday, February 5th. The stock was bought at an average cost of $54.14 per share, for a total transaction of $249,964.38. Following the completion of the acquisition, the chief financial officer now directly owns 4,617 shares of the company’s stock, valued at $249,964.38. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy A. Springer purchased 129,294 shares of the stock in a transaction on Wednesday, February 5th. The stock was acquired at an average price of $54.14 per share, with a total value of $6,999,977.16. Following the completion of the acquisition, the director now directly owns 4,226,058 shares of the company’s stock, valued at approximately $228,798,780.12. This represents a 3.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 9.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TECX shares. Raymond James started coverage on Tectonic Therapeutic in a research report on Wednesday, November 20th. They set an “outperform” rating and a $65.00 price objective on the stock. Wells Fargo & Company upped their price target on Tectonic Therapeutic from $79.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tectonic Therapeutic presently has a consensus rating of “Buy” and an average price target of $80.50.

Tectonic Therapeutic Company Profile

Tectonic Therapeutic, Inc engages in discovery and development of therapeutic proteins & antibodies. The company was founded by Timothy A. Springer and Andrew Kruse in 2019 and is headquartered in Watertown, MA.