Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Consensus Rating of “Buy” from Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $17.33.

A number of equities analysts have recently weighed in on the company. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Chardan Capital restated a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a research report on Friday, October 18th.

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TNYA. Synovus Financial Corp bought a new position in Tenaya Therapeutics during the third quarter valued at about $28,000. SG Americas Securities LLC acquired a new position in shares of Tenaya Therapeutics during the 3rd quarter valued at about $49,000. The Manufacturers Life Insurance Company raised its stake in shares of Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after acquiring an additional 7,000 shares in the last quarter. Algert Global LLC acquired a new stake in Tenaya Therapeutics in the 2nd quarter worth approximately $74,000. Finally, XTX Topco Ltd boosted 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 purchasing an additional 16,687 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Performance

Tenaya Therapeutics stock opened at $1.66 on Thursday. Tenaya Therapeutics has a 52 week low of $0.99 and a 52 week high of $7.01. The firm has a market capitalization of $131.51 million, a price-to-earnings ratio of -1.15 and a beta of 2.72. The company has a 50 day moving average price of $2.43 and a 200 day moving average price of $2.64.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.07. Equities analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal 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.