Tenaya Therapeutics (NASDAQ:TNYA) Raised to Sell at Wall Street Zen

Tenaya Therapeutics (NASDAQ:TNYA) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. One investment 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA opened at $0.68 on Friday. The company has a 50-day moving average of $0.76 and a 200-day moving average of $0.75. The firm has a market cap of $153.19 million, a price-to-earnings ratio of -1.29 and a beta of 2.77. Tenaya Therapeutics has a twelve month low of $0.53 and a twelve month high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. On average, research analysts forecast that Tenaya Therapeutics will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Integrity Wealth Solutions LLC purchased a new position in shares of Tenaya Therapeutics in the first quarter worth approximately $27,000. Scientech Research LLC acquired a new position in Tenaya Therapeutics in the 3rd quarter worth approximately $27,000. Callan Family Office LLC acquired a new position in Tenaya Therapeutics in the 2nd quarter worth approximately $37,000. Comerica Bank acquired a new position in Tenaya Therapeutics in the 1st quarter worth approximately $50,000. Finally, Cerity Partners LLC grew 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 worth $67,000 after purchasing an additional 88,424 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.