Tenaya Therapeutics (NASDAQ:TNYA) Issues Earnings Results, Beats Estimates By $0.04 EPS

Tenaya Therapeutics (NASDAQ:TNYA) released its quarterly earnings data on Monday. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04, Zacks reports.

Tenaya Therapeutics Price Performance

NASDAQ:TNYA opened at $0.73 on Tuesday. The firm has a market capitalization of $63.94 million, a PE ratio of -0.51 and a beta of 2.83. The business’s fifty day moving average price is $1.04 and its 200 day moving average price is $1.79. Tenaya Therapeutics has a 12 month low of $0.39 and a 12 month high of $5.39.

Wall Street Analysts Forecast Growth

TNYA has been the topic of a number of research reports. Chardan Capital decreased their price target on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. HC Wainwright decreased their price target on Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Canaccord Genuity Group reduced their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.25.

Insider Activity at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $0.70 per share, with a total value of $24,999,998.80. Following the completion of the acquisition, the insider now owns 49,313,559 shares in the company, valued at $34,519,491.30. This trade represents a 262.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 19,621 shares of company stock valued at $10,595 over the last quarter. 32.76% of the stock is owned by insiders.

About Tenaya Therapeutics

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.