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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.25.

A number of research firms recently weighed in on TNYA. Chardan Capital reduced their price objective on shares of Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Tenaya Therapeutics in a research note on Monday, March 31st. Canaccord Genuity Group decreased their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley cut their price objective on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th.

Tenaya Therapeutics Price Performance

Shares of NASDAQ TNYA opened at $0.50 on Friday. Tenaya Therapeutics has a 1 year low of $0.39 and a 1 year high of $4.96. The company has a 50-day moving average price of $0.83 and a 200-day moving average price of $1.63. The stock has a market capitalization of $43.69 million, a P/E ratio of -0.35 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Monday, March 17th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. As a group, equities research analysts anticipate that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Activity

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the transaction, the insider now owns 49,313,559 shares in the company, valued at $34,519,491.30. This trade represents a 262.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 19,621 shares of company stock worth $10,595. 32.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNYA. Synovus Financial Corp acquired a new position in Tenaya Therapeutics in the third quarter valued at approximately $28,000. Woodline Partners LP purchased a new position in Tenaya Therapeutics in the fourth quarter valued at $28,000. Commerce Bank acquired a new position in shares of Tenaya Therapeutics during the fourth quarter worth $29,000. Mariner LLC purchased a new position in shares of Tenaya Therapeutics in the 4th quarter valued at $30,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Tenaya Therapeutics in the 4th quarter valued at $32,000. 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.