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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.33.

Several analysts recently issued reports on TNYA shares. Chardan Capital reissued a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group restated a “buy” rating and set a $16.00 target price on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Tuesday.

Tenaya Therapeutics Price Performance

Shares of NASDAQ TNYA opened at $1.40 on Monday. The stock has a market cap of $110.91 million, a PE ratio of -0.97 and a beta of 2.89. Tenaya Therapeutics has a 1 year low of $0.99 and a 1 year high of $7.01. The firm has a fifty day moving average price of $2.24 and a 200-day moving average price of $2.45.

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

Institutional Investors Weigh In On Tenaya Therapeutics

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of Tenaya Therapeutics by 61.9% in the 4th quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock worth $59,000 after buying an additional 15,777 shares in the last quarter. Synovus Financial Corp purchased a new position in Tenaya Therapeutics in the third quarter worth about $28,000. Geode Capital Management LLC increased its stake in Tenaya Therapeutics by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after acquiring an additional 66,968 shares during the last quarter. XTX Topco Ltd raised 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 valued at $95,000 after purchasing an additional 16,687 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Tenaya Therapeutics by 35.6% in the 3rd quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock valued at $568,000 after purchasing an additional 77,235 shares during 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.