Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Average Recommendation of “Moderate Buy” from Analysts

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $4.00.

Several analysts recently issued reports on TNYA shares. Lifesci Capital raised shares of Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a research note on Wednesday, January 21st. Leerink Partners reaffirmed an “outperform” rating and set a $2.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $8.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, March 12th.

Insider Buying and Selling at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $0.56, for a total value of $1,966,622.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 8,594,047 shares of company stock valued at $5,430,207. Corporate insiders own 48.65% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Several hedge funds have recently made changes to their positions in the company. Woodline Partners LP grew its stake in shares of Tenaya Therapeutics by 30,563.2% in the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after buying an additional 5,896,873 shares during the period. Empery Asset Management LP purchased a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at approximately $3,852,000. Vanguard Group Inc. grew its stake in shares of Tenaya Therapeutics by 6.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,064,857 shares of the company’s stock valued at $8,205,000 after buying an additional 309,530 shares during the period. Millennium Management LLC grew its stake in shares of Tenaya Therapeutics by 2.5% in the 4th quarter. Millennium Management LLC now owns 4,615,746 shares of the company’s stock valued at $3,284,000 after buying an additional 111,154 shares during the period. Finally, Anson Funds Management LP purchased a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at approximately $2,955,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Trading Up 17.9%

Shares of NASDAQ TNYA opened at $1.00 on Friday. Tenaya Therapeutics has a 12-month low of $0.36 and a 12-month high of $2.35. The stock has a market cap of $217.00 million, a PE ratio of -2.13 and a beta of 2.77. The company has a 50-day moving average of $0.73 and a 200 day moving average of $0.92.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $7.50 million. On average, sell-side analysts forecast that Tenaya Therapeutics will post -0.41 EPS for the current fiscal year.

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.