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

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

TNYA has been the topic of a number of research reports. Wall Street Zen raised shares of Tenaya Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Lifesci Capital raised shares of Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Chardan Capital reaffirmed a “buy” rating and set a $8.00 target price on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $2.00 target price on shares of Tenaya Therapeutics in a research note on Thursday, March 12th.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA opened at $0.79 on Thursday. The company’s 50 day simple moving average is $0.77 and its 200 day simple moving average is $0.83. The stock has a market capitalization of $170.52 million, a price-to-earnings ratio of -1.67 and a beta of 2.82. Tenaya Therapeutics has a 1 year low of $0.48 and a 1 year high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $0.23 million during the quarter, compared to the consensus estimate of $7.50 million. As a group, analysts anticipate that Tenaya Therapeutics will post -0.43 EPS for the current fiscal year.

Institutional Trading of Tenaya Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Scientech Research LLC bought a new stake in shares of Tenaya Therapeutics during the third quarter worth $27,000. Integrity Wealth Solutions LLC bought a new stake in shares of Tenaya Therapeutics during the first quarter worth $27,000. Comerica Bank bought a new stake in shares of Tenaya Therapeutics during the first quarter worth $50,000. Cerity Partners LLC grew its stake in shares of Tenaya Therapeutics by 403.5% during the second quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock worth $67,000 after buying an additional 88,424 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new position in shares of Tenaya Therapeutics during the fourth quarter worth $72,000. Institutional investors own 90.54% of the company’s stock.

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.