Tenaya Therapeutics (NASDAQ:TNYA) Posts Earnings Results, Misses Expectations By $0.12 EPS

Tenaya Therapeutics (NASDAQ:TNYA) announced its quarterly earnings data on Wednesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12), FiscalAI reports. The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million.

Tenaya Therapeutics Price Performance

Shares of Tenaya Therapeutics stock traded up $0.04 during trading hours on Wednesday, hitting $0.78. 3,427,028 shares of the company’s stock traded hands, compared to its average volume of 2,031,799. The stock has a market capitalization of $170.28 million, a price-to-earnings ratio of -1.67 and a beta of 2.83. Tenaya Therapeutics has a 12-month low of $0.53 and a 12-month high of $2.35. The company has a fifty day simple moving average of $0.77 and a 200-day simple moving average of $0.76.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TNYA shares. Weiss Ratings upgraded Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scientech Research LLC bought a new position in Tenaya Therapeutics in the 3rd quarter worth about $27,000. Comerica Bank bought a new stake in Tenaya Therapeutics in the first quarter valued at approximately $50,000. Cerity Partners LLC lifted its position in Tenaya Therapeutics by 403.5% in the second quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after purchasing an additional 88,424 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at approximately $72,000. Finally, Cetera Investment Advisers grew its holdings in shares of Tenaya Therapeutics by 107.0% in the fourth quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock worth $76,000 after purchasing an additional 55,000 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

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.