Raymond James Resumes Coverage of Tectonic Therapeutic (TECX) With an Outperform Rating

Tectonic Therapeutic, Inc. (NASDAQ:TECX) is one of the 13 Small Cap Stocks Analysts Are Bullish On. On June 10, Raymond James resumed coverage of Tectonic Therapeutic, Inc. (NASDAQ:TECX) with an Outperform rating and set a $76 price target. The rating update was accompanied by a broader research note on Biotech names.

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A biotechnologist in a white lab coat manipulating genes in a laboratory.

The analyst told investors in a research note that risk/reward skews favorably across the sector. Although companies with a higher probability of success (PoS) lead assets result in a higher conviction, the most outsized returns may be attained by highly attractive skews on less de-risked assets.

Raymond James reasoned that for Tectonic Therapeutic, Inc. (NASDAQ:TECX), its lead asset, TX45, offers one of the most attractive risk-reward propositions in the biotech landscape, which is currently experiencing favorable skew and suppressed valuations.

The ongoing Phase 2 by Tectonic Therapeutic, Inc. (NASDAQ:TECX) targets a high unmet need indication, favorably aligning with relaxin’s multi-modal mechanism of action, according to the firm.

Tectonic Therapeutic, Inc. (NASDAQ:TECX) is a clinical-stage biotechnology company that discovers and develops therapeutic proteins and antibodies modulating the activity of G protein-coupled receptors (GPCR). The company develops a proprietary technology platform called GEODe to develop and discover GPCR-targeted biologic medicines.

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