Tenaya Therapeutics (NASDAQ:TNYA) Issues Earnings Results

Tenaya Therapeutics (NASDAQ:TNYA) issued its quarterly earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12), FiscalAI reports.

Tenaya Therapeutics Trading Down 4.1%

NASDAQ:TNYA opened at $0.86 on Thursday. The stock’s 50-day moving average is $0.73 and its 200-day moving average is $1.12. Tenaya Therapeutics has a 1-year low of $0.36 and a 1-year high of $2.35. The stock has a market cap of $140.60 million, a P/E ratio of -1.10 and a beta of 3.22.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TNYA. Chardan Capital reduced their price objective on shares of Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. HC Wainwright dropped their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Canaccord Genuity Group cut their price target on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, December 18th. Morgan Stanley set a $2.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Insider Transactions at Tenaya Therapeutics

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total value of $2,758,469.64. Following the completion of the transaction, the insider directly owned 2,348,183 shares in the company, valued at approximately $1,596,764.44. This represents a 63.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 8,594,047 shares of company stock valued at $5,430,207. 48.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of hedge funds have recently modified their holdings of the business. Scientech Research LLC acquired a new stake in Tenaya Therapeutics in the third quarter valued at $27,000. Jefferies Financial Group Inc. acquired a new position in Tenaya Therapeutics during the 3rd quarter worth about $99,000. Comerica Bank bought a new stake in shares of Tenaya Therapeutics in the 1st quarter valued at about $50,000. Corient Private Wealth LLC bought a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at about $72,000. Finally, Cetera Investment Advisers increased its stake in shares of Tenaya Therapeutics by 107.0% in the fourth quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock valued at $76,000 after buying an additional 55,000 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.