Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Recommendation of “Buy” by Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average rating of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $15.00.

A number of brokerages have issued reports on TNYA. William Blair began coverage on shares of Tenaya Therapeutics in a research note on Monday, June 10th. They set an “outperform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Monday, July 8th. Finally, Canaccord Genuity Group cut their price objective on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th.

Institutional Trading of Tenaya Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. boosted its holdings in 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 worth $30,099,000 after buying an additional 247,703 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Tenaya Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after buying an additional 403,472 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Tenaya Therapeutics by 12.3% during the second 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Tenaya Therapeutics by 90.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock worth $882,000 after buying an additional 80,212 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its holdings in Tenaya Therapeutics by 136.2% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 81,255 shares of the company’s stock worth $263,000 after buying an additional 46,847 shares in the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

Tenaya Therapeutics Trading Down 2.8 %

Shares of Tenaya Therapeutics stock opened at $3.88 on Monday. Tenaya Therapeutics has a 12-month low of $1.66 and a 12-month high of $7.01. The firm has a market capitalization of $304.65 million, a price-to-earnings ratio of -2.37 and a beta of 2.42. The firm’s 50 day simple moving average is $3.57 and its two-hundred day simple moving average is $4.35.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.03. On average, sell-side analysts predict that Tenaya Therapeutics will post -1.59 EPS for the current fiscal year.

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.