Tenaya Therapeutics (NASDAQ:TNYA) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Tenaya Therapeutics (NASDAQ:TNYA) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other analysts have also recently weighed in on TNYA. Canaccord Genuity Group lowered their target price on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Chardan Capital restated a “buy” rating and set a $8.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, January 21st. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Morgan Stanley set a $2.00 target price on Tenaya Therapeutics in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Tenaya Therapeutics Price Performance

TNYA opened at $0.86 on Friday. Tenaya Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $2.35. The firm’s fifty day moving average price is $0.74 and its two-hundred day moving average price is $1.12. The company has a market capitalization of $140.34 million, a P/E ratio of -1.38 and a beta of 3.22.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). On average, equities research analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Transactions at Tenaya Therapeutics

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 2,348,183 shares in the company, valued at $1,596,764.44. The trade was a 63.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 8,594,047 shares of company stock worth $5,430,207. Company insiders own 48.65% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Several hedge funds have recently modified their holdings of TNYA. Woodline Partners LP raised its stake in shares of Tenaya Therapeutics by 30,563.2% in the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after acquiring an additional 5,896,873 shares during the last quarter. Empery Asset Management LP bought a new stake in Tenaya Therapeutics during the 4th quarter worth approximately $3,852,000. Vanguard Group Inc. grew its position in Tenaya Therapeutics by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,064,857 shares of the company’s stock worth $8,205,000 after acquiring an additional 309,530 shares during the last quarter. Millennium Management LLC increased its holdings in Tenaya Therapeutics by 2.5% during the 4th quarter. Millennium Management LLC now owns 4,615,746 shares of the company’s stock valued at $3,284,000 after purchasing an additional 111,154 shares in the last quarter. Finally, Anson Funds Management LP acquired a new stake in Tenaya Therapeutics during the 4th quarter valued at $2,955,000. 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.