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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.00.

TNYA has been the subject of a number of research analyst reports. Weiss Ratings upgraded Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded Tenaya Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, September 6th.

Tenaya Therapeutics Trading Down 1.4%

NASDAQ:TNYA opened at $0.64 on Friday. Tenaya Therapeutics has a twelve month low of $0.53 and a twelve month high of $2.35. The company has a market cap of $143.51 million, a PE ratio of -1.21 and a beta of 2.77. The company’s 50 day moving average is $0.75 and its two-hundred day moving average is $0.75.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The business had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. As a group, analysts expect that Tenaya Therapeutics will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Woodline Partners LP raised 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 worth $3,373,000 after purchasing an additional 5,896,873 shares during the last quarter. Empery Asset Management LP acquired a new position in Tenaya Therapeutics during the fourth quarter valued at $3,852,000. Anson Funds Management LP purchased a new stake in Tenaya Therapeutics in the fourth quarter valued at $2,955,000. BlackRock Inc. purchased a new stake in Tenaya Therapeutics in the second quarter valued at $2,963,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Tenaya Therapeutics during the 4th quarter worth about $2,846,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Tenaya Therapeutics Company Profile

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.