Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives $14.75 Consensus PT from Brokerages

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $17.33.

Several research firms have recently issued reports on TNYA. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research note on Monday, November 25th. Finally, Chardan Capital decreased their price objective on Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Tenaya Therapeutics Stock Performance

TNYA opened at $3.57 on Friday. The stock has a market cap of $282.82 million, a price-to-earnings ratio of -2.48 and a beta of 2.34. The firm’s fifty day moving average is $2.14 and its 200 day moving average is $2.84. Tenaya Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.07. On average, equities research analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. abrdn plc bought a new position in shares of Tenaya Therapeutics during the 3rd quarter valued at approximately $1,063,000. Vanguard Group Inc. raised its stake in shares of Tenaya Therapeutics by 16.4% in the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after acquiring an additional 403,472 shares during the period. RA Capital Management L.P. lifted its holdings in shares of Tenaya Therapeutics by 4.5% in the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock worth $30,099,000 after acquiring an additional 247,703 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Tenaya Therapeutics by 204.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after acquiring an additional 226,466 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Tenaya Therapeutics by 144.1% during the 2nd quarter. Renaissance Technologies LLC now owns 157,460 shares of the company’s stock worth $488,000 after purchasing an additional 92,960 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

About Tenaya Therapeutics

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.