HC Wainwright Reaffirms Buy Rating for Tenaya Therapeutics (NASDAQ:TNYA)

HC Wainwright reiterated their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a report published on Monday, Benzinga reports. The firm currently has a $18.00 price objective on the stock.

Several other equities analysts also recently commented on the stock. Chardan Capital restated a buy rating and issued a $20.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 21st. William Blair began coverage on shares of Tenaya Therapeutics in a research report on Monday, June 10th. They set an outperform rating for the company. Finally, Canaccord Genuity Group cut their price objective on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a buy rating for the company in a research report on Thursday, May 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $15.00.

Tenaya Therapeutics Stock Performance

TNYA stock opened at $3.07 on Monday. The company’s 50-day simple moving average is $3.76 and its 200 day simple moving average is $4.32. Tenaya Therapeutics has a 52 week low of $1.66 and a 52 week high of $7.01. The company has a market capitalization of $241.06 million, a PE ratio of -1.87 and a beta of 2.42.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.03. On average, analysts forecast that Tenaya Therapeutics will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its holdings in shares of Tenaya Therapeutics by 194.5% in the third quarter. GSA Capital Partners LLP now owns 363,493 shares of the company’s stock worth $927,000 after acquiring an additional 240,082 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Tenaya Therapeutics in the fourth quarter worth about $228,000. Bailard Inc. bought a new position in shares of Tenaya Therapeutics in the fourth quarter worth about $107,000. Cornercap Investment Counsel Inc. lifted its holdings in shares of Tenaya Therapeutics by 136.2% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 81,255 shares of the company’s stock worth $263,000 after acquiring an additional 46,847 shares during the last quarter. Finally, NEOS Investment Management LLC bought a new position in shares of Tenaya Therapeutics in the fourth quarter worth about $201,000. Institutional investors own 90.54% of the company’s stock.

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.