Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Update

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 13,120,000 shares, an increase of 150.4% from the October 31st total of 5,240,000 shares. Approximately 20.0% of the shares of the company are short sold. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is presently 5.7 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on TNYA shares. Chardan Capital cut their price target on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Monday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tenaya Therapeutics currently has an average rating of “Buy” and a consensus price target of $14.75.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Synovus Financial Corp bought a new position in Tenaya Therapeutics during the third quarter worth about $28,000. Geode Capital Management LLC increased its position in Tenaya Therapeutics by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after acquiring an additional 66,968 shares during the period. XTX Topco Ltd increased its position in Tenaya Therapeutics by 51.2% during the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after acquiring an additional 16,687 shares during the period. Wellington Management Group LLP increased its position in Tenaya Therapeutics by 35.6% during the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock worth $568,000 after acquiring an additional 77,235 shares during the period. Finally, State Street Corp increased its position in Tenaya Therapeutics by 0.9% during the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after acquiring an additional 9,506 shares during the period. 90.54% of the stock is owned by institutional investors.

Tenaya Therapeutics Stock Up 8.5 %

Shares of NASDAQ TNYA traded up $0.28 during mid-day trading on Friday, reaching $3.57. 4,624,728 shares of the company were exchanged, compared to its average volume of 1,027,089. The company’s 50-day simple moving average is $2.11 and its 200-day simple moving average is $2.85. The stock has a market capitalization of $282.82 million, a P/E ratio of -2.48 and a beta of 2.34. Tenaya Therapeutics has a twelve month low of $1.61 and a twelve month high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. As a group, equities research analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current year.

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.