Tenaya Therapeutics (NASDAQ:TNYA) Shares Down 3.9% – Time to Sell?

Tenaya Therapeutics, Inc. (NASDAQ:TNYA)’s share price was down 3.9% on Monday . The stock traded as low as $0.80 and last traded at $0.8365. 2,369,472 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 2,526,854 shares. The stock had previously closed at $0.8704.

Wall Street Analyst Weigh In

TNYA has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenaya Therapeutics in a research note on Thursday, July 2nd. Wall Street Zen lowered Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tenaya Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Tenaya Therapeutics Stock Down 2.5%

The firm has a market capitalization of $182.93 million, a P/E ratio of -1.80 and a beta of 2.83. The firm’s 50-day simple moving average is $0.80 and its 200-day simple moving average is $0.75.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $7.50 million. As a group, analysts expect that Tenaya Therapeutics, Inc. will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Integrity Wealth Solutions LLC bought a new stake in Tenaya Therapeutics during the first quarter worth about $27,000. Scientech Research LLC bought a new position in shares of Tenaya Therapeutics during the 3rd quarter valued at about $27,000. Comerica Bank bought a new position in shares of Tenaya Therapeutics during the 1st quarter valued at about $50,000. Cerity Partners LLC raised its holdings in shares of 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 in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Tenaya Therapeutics during the 4th quarter valued at about $72,000. Institutional investors own 90.54% of the company’s stock.

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.