Chardan Capital Cuts Tenaya Therapeutics (NASDAQ:TNYA) Price Target to $18.00

Tenaya Therapeutics (NASDAQ:TNYA) had its price objective trimmed by Chardan Capital from $20.00 to $18.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.75.

Tenaya Therapeutics Price Performance

Tenaya Therapeutics stock opened at $2.76 on Thursday. Tenaya Therapeutics has a one year low of $1.61 and a one year high of $7.01. The business has a fifty day moving average of $2.05 and a two-hundred day moving average of $3.03.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. On average, analysts expect that Tenaya Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Tenaya Therapeutics

In other Tenaya Therapeutics 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 transaction, 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 SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 19,539 shares of company stock worth $56,468. 32.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. grew its stake in shares of Tenaya Therapeutics by 4.5% during the first quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock valued at $30,099,000 after acquiring an additional 247,703 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Tenaya Therapeutics by 16.4% in the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after purchasing an additional 403,472 shares during the period. Integral Health Asset Management LLC increased its stake in Tenaya Therapeutics by 3.3% during the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock valued at $7,208,000 after purchasing an additional 75,000 shares during the last quarter. abrdn plc acquired a new stake in shares of Tenaya Therapeutics during the third quarter worth $1,063,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Tenaya Therapeutics by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock worth $737,000 after buying an additional 26,103 shares during the last quarter. 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.