Analysts Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Target Price at $4.00

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $4.00.

A number of research analysts recently issued reports on TNYA shares. Wall Street Zen cut Tenaya Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings raised shares of Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th.

Tenaya Therapeutics Stock Performance

Shares of TNYA opened at $0.73 on Tuesday. The stock has a fifty day moving average price of $0.76 and a two-hundred day moving average price of $0.76. Tenaya Therapeutics has a 52-week low of $0.53 and a 52-week high of $2.35. The company has a market cap of $163.26 million, a price-to-earnings ratio of -1.37 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The business had revenue of $1.11 million during the quarter, compared to the consensus estimate of $10.00 million. As a group, research analysts predict that Tenaya Therapeutics will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of large 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 valued at approximately $27,000. Integrity Wealth Solutions LLC acquired a new position in Tenaya Therapeutics during the 1st quarter worth $27,000. Callan Family Office LLC acquired a new position in Tenaya Therapeutics during the 2nd quarter worth $37,000. Comerica Bank acquired a new position in Tenaya Therapeutics during the 1st quarter worth $50,000. Finally, Cerity Partners LLC boosted its position in Tenaya Therapeutics by 403.5% in 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 during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.