Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) PT at $15.00

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been given a consensus rating of “Buy” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

A number of brokerages have recently weighed in on TNYA. Canaccord Genuity Group lowered their price objective on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Chardan Capital reiterated a “buy” rating and set a $20.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 21st. William Blair began coverage on shares of Tenaya Therapeutics in a report on Monday, June 10th. They set an “outperform” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, May 15th.

Tenaya Therapeutics Stock Performance

Shares of TNYA opened at $3.10 on Thursday. The firm has a market cap of $243.41 million, a price-to-earnings ratio of -1.89 and a beta of 2.52. Tenaya Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $7.01. The firm has a 50 day moving average price of $3.99 and a 200-day moving average price of $4.29.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. As a group, equities research analysts predict that Tenaya Therapeutics will post -1.59 earnings per share for the current year.

Institutional Trading of Tenaya Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP grew its position in shares of Tenaya Therapeutics by 194.5% in the 3rd quarter. GSA Capital Partners LLP now owns 363,493 shares of the company’s stock worth $927,000 after buying an additional 240,082 shares during the period. Bailard Inc. purchased a new stake in shares of Tenaya Therapeutics in the 4th quarter worth about $107,000. HighPoint Advisor Group LLC purchased a new stake in shares of Tenaya Therapeutics in the 4th quarter worth about $228,000. Acadian Asset Management LLC grew its position in shares of Tenaya Therapeutics by 501.6% in the 3rd quarter. Acadian Asset Management LLC now owns 104,069 shares of the company’s stock worth $263,000 after buying an additional 86,769 shares during the period. Finally, Cornercap Investment Counsel Inc. grew its position in shares of Tenaya Therapeutics by 136.2% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 81,255 shares of the company’s stock worth $263,000 after buying an additional 46,847 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

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.