Tenaya Therapeutics (NASDAQ:TNYA) Given “Buy” Rating at Chardan Capital

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reiterated by Chardan Capital in a research report issued on Thursday,Benzinga reports. They presently have a $8.00 price objective on the stock.

Several other equities analysts have also commented on the stock. Lifesci Capital raised shares of Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th. Morgan Stanley set a $2.00 price target on shares of Tenaya Therapeutics in a research report on Thursday, January 8th. Canaccord Genuity Group reduced their price objective on Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, January 21st. Finally, HC Wainwright dropped their target price on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

Tenaya Therapeutics Trading Down 4.1%

Shares of NASDAQ TNYA opened at $0.86 on Thursday. The stock has a market cap of $140.60 million, a price-to-earnings ratio of -1.10 and a beta of 3.22. Tenaya Therapeutics has a 1-year low of $0.36 and a 1-year high of $2.35. The stock’s 50-day moving average is $0.73 and its 200 day moving average is $1.12.

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.

Insider Activity at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total transaction of $2,758,469.64. Following the completion of the sale, the insider directly owned 2,348,183 shares in the company, valued at approximately $1,596,764.44. This represents a 63.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 8,594,047 shares of company stock worth $5,430,207 over the last ninety days. Corporate insiders own 48.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Scientech Research LLC bought a new position in Tenaya Therapeutics during the 3rd quarter valued at approximately $27,000. Mirador Capital Partners LP grew its position in shares of Tenaya Therapeutics by 38.2% in the 3rd quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock worth $38,000 after buying an additional 6,500 shares during the last quarter. Comerica Bank purchased a new stake in Tenaya Therapeutics in the first quarter worth $50,000. Savant Capital LLC bought a new stake in Tenaya Therapeutics in the second quarter valued at $52,000. Finally, Cerity Partners LLC increased 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 purchasing an additional 88,424 shares during the period. Hedge funds and other 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.