Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.00.

A number of research analysts recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Tenaya Therapeutics in a research report on Thursday, March 12th. Chardan Capital reissued a “buy” rating and set a $8.00 price target on shares of Tenaya Therapeutics in a research report on Thursday, March 12th. Leerink Partners reissued an “outperform” rating and set a $2.00 price target on shares of Tenaya Therapeutics in a research report on Thursday, March 12th. Wall Street Zen cut shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Lifesci Capital raised shares of Tenaya Therapeutics to a “strong-buy” rating in a research report on Thursday, March 5th.

Tenaya Therapeutics Price Performance

Shares of NASDAQ TNYA opened at $0.72 on Monday. Tenaya Therapeutics has a 1 year low of $0.53 and a 1 year high of $2.35. The stock has a market cap of $155.70 million, a P/E ratio of -1.53 and a beta of 2.82. The firm has a 50-day moving average of $0.77 and a 200 day moving average of $0.76.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $7.50 million. Research analysts expect that Tenaya Therapeutics will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TNYA. Woodline Partners LP raised its holdings in Tenaya Therapeutics by 30,563.2% in the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock worth $3,373,000 after buying an additional 5,896,873 shares during the last quarter. Empery Asset Management LP purchased a new position in Tenaya Therapeutics in the fourth quarter worth about $3,852,000. Anson Funds Management LP purchased a new position in Tenaya Therapeutics in the fourth quarter worth about $2,955,000. Alyeska Investment Group L.P. purchased a new position in Tenaya Therapeutics in the fourth quarter worth about $2,846,000. Finally, Millennium Management LLC raised its holdings in Tenaya Therapeutics by 561.7% in the third quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock worth $7,297,000 after buying an additional 3,823,848 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

Tenaya Therapeutics Company Profile

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.