Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) PT at $4.50

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.50.

Several research analysts recently commented on TNYA shares. HC Wainwright reduced their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a report on Friday, December 12th. Canaccord Genuity Group reduced their price objective on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Morgan Stanley set a $2.00 target price on Tenaya Therapeutics in a research report on Thursday, January 8th. Chardan Capital dropped their target price on Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, December 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research note on Wednesday, January 21st.

Insider Buying and Selling at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total transaction of $2,758,469.64. Following the transaction, the insider directly owned 2,348,183 shares in the company, valued at approximately $1,596,764.44. The trade was a 63.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,423,781 shares of company stock valued at $3,055,352 over the last three months. 48.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TNYA. Woodline Partners LP increased its stake in shares of Tenaya Therapeutics by 30,563.2% during the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock worth $3,373,000 after purchasing an additional 5,896,873 shares during the last quarter. Empery Asset Management LP acquired a new position in Tenaya Therapeutics during the fourth quarter worth approximately $3,852,000. Anson Funds Management LP acquired a new position in Tenaya Therapeutics during the fourth quarter worth approximately $2,955,000. Alyeska Investment Group L.P. bought a new stake in Tenaya Therapeutics in the fourth quarter valued at approximately $2,846,000. Finally, Millennium Management LLC lifted its position in shares of Tenaya Therapeutics by 561.7% in the third quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock valued at $7,297,000 after buying an additional 3,823,848 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Down 5.2%

Shares of TNYA opened at $0.59 on Tuesday. Tenaya Therapeutics has a twelve month low of $0.36 and a twelve month high of $2.35. The stock has a market capitalization of $96.10 million, a P/E ratio of -0.75 and a beta of 3.18. The company has a 50 day moving average of $0.73 and a 200-day moving average of $1.15.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.