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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $4.00.

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tenaya Therapeutics in a report on Thursday, July 2nd. Wall Street Zen lowered Tenaya Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 6th.

Tenaya Therapeutics Stock Down 0.7%

TNYA stock opened at $0.84 on Friday. The stock has a market cap of $181.76 million, a PE ratio of -1.78 and a beta of 2.83. The firm’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $0.75. Tenaya Therapeutics has a fifty-two week low of $0.53 and a fifty-two week high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $7.50 million. Equities analysts forecast that Tenaya Therapeutics will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Woodline Partners LP increased its holdings in shares of Tenaya Therapeutics by 30,563.2% during the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after purchasing an additional 5,896,873 shares during the period. Empery Asset Management LP acquired a new stake in Tenaya Therapeutics in the fourth quarter worth about $3,852,000. Anson Funds Management LP acquired a new stake in Tenaya Therapeutics in the fourth quarter worth about $2,955,000. Alyeska Investment Group L.P. bought a new position in Tenaya Therapeutics in the 4th quarter valued at about $2,846,000. Finally, Millennium Management LLC grew its position in Tenaya Therapeutics by 561.7% in the 3rd quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock valued at $7,297,000 after buying an additional 3,823,848 shares in the last quarter. Institutional investors own 90.54% of the company’s stock.

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.