Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Average Rating of “Buy” from Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has earned a consensus rating of “Buy” from the seven research firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.40.

Several brokerages recently commented on TNYA. Canaccord Genuity Group reduced their target price on shares of Tenaya Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a report on Tuesday, March 19th. Finally, Chardan Capital restated a “buy” rating and set a $20.00 target price on shares of Tenaya Therapeutics in a report on Thursday, March 21st.

Tenaya Therapeutics Stock Down 3.6 %

Tenaya Therapeutics stock opened at $4.30 on Friday. The stock has a market capitalization of $337.62 million, a PE ratio of -2.57 and a beta of 2.60. Tenaya Therapeutics has a twelve month low of $1.66 and a twelve month high of $8.09. The company has a 50 day moving average of $5.29 and a 200-day moving average of $3.57.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.05. Equities analysts anticipate that Tenaya Therapeutics will post -1.7 EPS for the current fiscal year.

Insider Activity

In related news, CEO Faraz Ali sold 6,358 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.86, for a total transaction of $37,257.88. Following the transaction, the chief executive officer now directly owns 113,079 shares of the company’s stock, valued at $662,642.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Faraz Ali sold 6,358 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.86, for a total transaction of $37,257.88. Following the transaction, the chief executive officer now directly owns 113,079 shares of the company’s stock, valued at $662,642.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Timothy Hoey sold 4,681 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.86, for a total transaction of $27,430.66. Following the transaction, the insider now directly owns 242,715 shares in the company, valued at $1,422,309.90. The disclosure for this sale can be found here. Insiders have sold 20,908 shares of company stock valued at $122,867 over the last ninety days. 33.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

Hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP grew its stake in Tenaya Therapeutics by 194.5% during the third quarter. GSA Capital Partners LLP now owns 363,493 shares of the company’s stock worth $927,000 after buying an additional 240,082 shares in the last quarter. Barclays PLC grew its stake in Tenaya Therapeutics by 2,635.8% during the third quarter. Barclays PLC now owns 249,558 shares of the company’s stock worth $637,000 after buying an additional 240,436 shares in the last quarter. Acadian Asset Management LLC grew its stake in Tenaya Therapeutics by 501.6% during the third quarter. Acadian Asset Management LLC now owns 104,069 shares of the company’s stock worth $263,000 after buying an additional 86,769 shares in the last quarter. TD Asset Management Inc grew its stake in Tenaya Therapeutics by 100.0% during the third quarter. TD Asset Management Inc now owns 219,932 shares of the company’s stock worth $561,000 after buying an additional 109,966 shares in the last quarter. Finally, RA Capital Management L.P. grew its stake in Tenaya Therapeutics by 10.7% during the third quarter. RA Capital Management L.P. now owns 6,718,483 shares of the company’s stock worth $17,132,000 after buying an additional 651,000 shares in the last quarter. 90.54% of the stock is owned by institutional investors.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.