Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Rating of “Moderate Buy” by Analysts

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $4.00.

A number of brokerages have recently weighed in on TNYA. William Blair restated an “outperform” rating on shares of Tenaya Therapeutics in a report on Thursday. HC Wainwright decreased their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Leerink Partners reissued an “outperform” rating and issued a $2.00 price target on shares of Tenaya Therapeutics in a research note on Thursday. Lifesci Capital upgraded shares of Tenaya Therapeutics to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen cut Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday.

Insiders Place Their Bets

In related news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $0.56, for a total transaction of $1,966,622.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 8,594,047 shares of company stock worth $5,430,207. Corporate insiders own 48.65% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Scientech Research LLC bought a new position in shares of Tenaya Therapeutics in the third quarter worth approximately $27,000. Mirador Capital Partners LP raised its holdings in Tenaya Therapeutics by 38.2% during the 3rd quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock valued at $38,000 after buying an additional 6,500 shares during the last quarter. Comerica Bank bought a new stake in Tenaya Therapeutics during the 1st quarter valued at $50,000. Savant Capital LLC purchased a new stake in Tenaya Therapeutics during the 2nd quarter valued at $52,000. Finally, Cerity Partners LLC boosted its position in Tenaya Therapeutics by 403.5% during the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after buying an additional 88,424 shares during the period. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Trading Down 4.5%

Shares of NASDAQ TNYA opened at $0.85 on Friday. The stock’s 50-day moving average is $0.73 and its 200 day moving average is $1.12. The stock has a market cap of $139.57 million, a price-to-earnings ratio of -1.37 and a beta of 3.22. Tenaya Therapeutics has a 1-year low of $0.36 and a 1-year high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its earnings results on Wednesday, March 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). On average, analysts forecast that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

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.