Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Target Price at $4.00

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.00.

A number of research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 6th.

Tenaya Therapeutics Trading Down 3.8%

Shares of TNYA stock opened at $0.70 on Tuesday. Tenaya Therapeutics has a 1 year low of $0.53 and a 1 year high of $2.35. The firm’s 50 day moving average is $0.76 and its 200-day moving average is $0.76. The firm has a market capitalization of $156.98 million, a price-to-earnings ratio of -1.32 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. On average, equities research analysts forecast that Tenaya Therapeutics will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of institutional investors have recently made changes to their positions in TNYA. Scientech Research LLC acquired a new stake in shares of Tenaya Therapeutics during the third quarter worth $27,000. Integrity Wealth Solutions LLC acquired a new position in Tenaya Therapeutics in the first quarter valued at about $27,000. Callan Family Office LLC acquired a new position in Tenaya Therapeutics in the second quarter valued at about $37,000. Jefferies Financial Group Inc. bought a new position in Tenaya Therapeutics during the third quarter worth about $99,000. Finally, Comerica Bank bought a new position in Tenaya Therapeutics during the first quarter worth about $50,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Tenaya Therapeutics Company Profile

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.