Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Consensus Rating of “Buy” by Analysts

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

Several analysts have recently commented on TNYA shares. Chardan Capital reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Wednesday.

Tenaya Therapeutics Price Performance

TNYA opened at $1.23 on Thursday. Tenaya Therapeutics has a fifty-two week low of $0.99 and a fifty-two week high of $7.01. The firm has a market capitalization of $97.44 million, a PE ratio of -0.85 and a beta of 2.72. The company’s 50-day moving average is $2.44 and its 200 day moving average is $2.72.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.07. As a group, analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current year.

Hedge Funds Weigh In On Tenaya Therapeutics

Institutional investors have recently bought and sold shares of the company. Synovus Financial Corp purchased a new stake in Tenaya Therapeutics in the third quarter worth $28,000. The Manufacturers Life Insurance Company increased its holdings in Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after acquiring an additional 7,000 shares during the last quarter. Algert Global LLC bought a new stake in Tenaya Therapeutics in the 2nd quarter valued at about $74,000. SG Americas Securities LLC purchased a new stake in Tenaya Therapeutics during the third quarter valued at about $49,000. Finally, XTX Topco Ltd boosted its position in Tenaya Therapeutics by 51.2% during the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after purchasing an additional 16,687 shares during the period. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Company Profile

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.