Tenaya Therapeutics (NASDAQ:TNYA) Price Target Cut to $18.00 by Analysts at Chardan Capital

Tenaya Therapeutics (NASDAQ:TNYA) had its target price trimmed by Chardan Capital from $20.00 to $18.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on TNYA. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $14.75.

Tenaya Therapeutics Trading Up 12.8 %

NASDAQ TNYA traded up $0.32 on Thursday, hitting $2.82. 6,309,166 shares of the company’s stock were exchanged, compared to its average volume of 745,316. The stock has a 50-day moving average of $2.04 and a 200-day moving average of $3.05. Tenaya Therapeutics has a 52 week low of $1.61 and a 52 week high of $7.01. The stock has a market cap of $222.47 million, a price-to-earnings ratio of -2.03 and a beta of 2.34.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.06. As a group, analysts predict that Tenaya Therapeutics will post -1.52 earnings per share for the current year.

Insiders Place Their Bets

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total transaction of $28,171.72. Following the completion of the sale, the chief executive officer now directly owns 188,331 shares in the company, valued at approximately $544,276.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 19,539 shares of company stock worth $56,468. Company insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TNYA. abrdn plc bought a new position in shares of Tenaya Therapeutics during the 3rd quarter worth about $1,063,000. Vanguard Group Inc. lifted its position in Tenaya Therapeutics by 16.4% in the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after acquiring an additional 403,472 shares in the last quarter. RA Capital Management L.P. lifted its position in Tenaya Therapeutics by 4.5% in the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock valued at $30,099,000 after acquiring an additional 247,703 shares in the last quarter. Renaissance Technologies LLC lifted its position in Tenaya Therapeutics by 144.1% in the 2nd quarter. Renaissance Technologies LLC now owns 157,460 shares of the company’s stock valued at $488,000 after acquiring an additional 92,960 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Tenaya Therapeutics by 90.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock valued at $882,000 after acquiring an additional 80,212 shares in the last quarter. 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.