Tenaya Therapeutics (NASDAQ:TNYA) Announces Quarterly Earnings Results

Tenaya Therapeutics (NASDAQ:TNYA) released its quarterly earnings results on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03, Zacks reports.

Tenaya Therapeutics Stock Down 1.7%

Tenaya Therapeutics stock traded down $0.03 during mid-day trading on Tuesday, reaching $1.41. 287,125 shares of the company’s stock were exchanged, compared to its average volume of 3,232,639. Tenaya Therapeutics has a one year low of $0.36 and a one year high of $4.01. The business’s fifty day simple moving average is $1.53 and its 200 day simple moving average is $0.98. The firm has a market capitalization of $228.98 million, a PE ratio of -1.46 and a beta of 3.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Chardan Capital reissued a “buy” rating and set a $9.00 target price on shares of Tenaya Therapeutics in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Tenaya Therapeutics in a report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded shares of Tenaya Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tenaya Therapeutics has an average rating of “Moderate Buy” and an average target price of $6.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Woodline Partners LP increased its holdings in Tenaya Therapeutics by 30,563.2% in the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock worth $3,373,000 after acquiring an additional 5,896,873 shares during the last quarter. Vanguard Group Inc. boosted its position in Tenaya Therapeutics by 6.5% during the third quarter. Vanguard Group Inc. now owns 5,064,857 shares of the company’s stock worth $8,205,000 after purchasing an additional 309,530 shares during the period. AQR Capital Management LLC purchased a new position in shares of Tenaya Therapeutics in the first quarter worth about $442,000. Jane Street Group LLC raised its position in shares of Tenaya Therapeutics by 1,958.7% in the second quarter. Jane Street Group LLC now owns 376,068 shares of the company’s stock valued at $230,000 after purchasing an additional 357,801 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Tenaya Therapeutics during the 2nd quarter valued at approximately $90,000. 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.