Tenaya Therapeutics (NASDAQ:TNYA) Announces Earnings Results

Tenaya Therapeutics (NASDAQ:TNYA) issued its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09), FiscalAI reports. The firm had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $7.50 million.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA opened at $0.87 on Monday. Tenaya Therapeutics has a twelve month low of $0.43 and a twelve month high of $2.35. The company has a market cap of $188.57 million, a PE ratio of -1.85 and a beta of 2.82. The company’s 50 day moving average is $0.76 and its two-hundred day moving average is $0.84.

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Scientech Research LLC acquired a new position in shares of Tenaya Therapeutics in the 3rd quarter valued at $27,000. Comerica Bank acquired a new stake in Tenaya Therapeutics during the 1st quarter worth about $50,000. Cerity Partners LLC lifted 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 worth $67,000 after acquiring an additional 88,424 shares during the period. Corient Private Wealth LLC purchased a new stake in Tenaya Therapeutics during the 4th quarter valued at about $72,000. Finally, Cetera Investment Advisers grew its stake in Tenaya Therapeutics by 107.0% during the 4th quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock valued at $76,000 after purchasing an additional 55,000 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TNYA shares. Wall Street Zen raised shares of Tenaya Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Chardan Capital restated a “buy” rating and set a $8.00 target price on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Lifesci Capital raised Tenaya Therapeutics to a “strong-buy” rating in a research report on Thursday, March 5th. Leerink Partners reiterated an “outperform” rating and issued a $2.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Finally, William Blair reissued an “outperform” rating on shares of Tenaya Therapeutics in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tenaya Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

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.