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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average recommendation of “Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is $15.25.

A number of research firms have weighed in on TNYA. HC Wainwright restated a “buy” rating and set a $18.00 price target 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 report on Friday, October 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th.

Tenaya Therapeutics Stock Performance

Shares of TNYA stock opened at $2.13 on Wednesday. Tenaya Therapeutics has a 52-week low of $1.61 and a 52-week high of $7.01. The company has a market capitalization of $168.04 million, a PE ratio of -1.39 and a beta of 2.34. The business’s fifty day moving average is $2.07 and its 200 day moving average is $3.08.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06. On average, sell-side analysts forecast that Tenaya Therapeutics will post -1.52 EPS for the current fiscal year.

Insider Transactions at Tenaya Therapeutics

In related news, CEO Faraz Ali sold 9,748 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the sale, the chief executive officer now directly owns 188,331 shares of the company’s stock, valued at $544,276.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 19,539 shares of company stock worth $56,468. Company insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Several large investors have recently modified their holdings of the business. RA Capital Management L.P. grew its stake in shares of Tenaya Therapeutics by 4.5% in the first quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock worth $30,099,000 after purchasing an additional 247,703 shares during the last quarter. Vanguard Group Inc. boosted its position in Tenaya Therapeutics by 16.4% during the 1st 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 in the last quarter. Integral Health Asset Management LLC boosted its position in Tenaya Therapeutics by 3.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock valued at $7,208,000 after acquiring an additional 75,000 shares in the last quarter. abrdn plc bought a new stake in Tenaya Therapeutics during the 3rd quarter valued at approximately $1,063,000. Finally, Bank of New York Mellon Corp boosted its position in Tenaya Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock valued at $737,000 after acquiring an additional 26,103 shares in the last quarter. 90.54% of the stock is owned by 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.