Panagora Asset Management Inc. Makes New $164,000 Investment in Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

Panagora Asset Management Inc. bought a new stake in Tenaya Therapeutics, Inc. (NASDAQ:TNYA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 52,744 shares of the company’s stock, valued at approximately $164,000. Panagora Asset Management Inc. owned about 0.07% of Tenaya Therapeutics at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TNYA. Bank of New York Mellon Corp lifted its holdings in Tenaya Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock valued at $737,000 after buying an additional 26,103 shares during the period. RA Capital Management L.P. lifted its stake in shares of Tenaya Therapeutics by 4.5% in the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock valued at $30,099,000 after purchasing an additional 247,703 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Tenaya Therapeutics by 90.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock worth $882,000 after purchasing an additional 80,212 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tenaya Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after purchasing an additional 403,472 shares during the period. Finally, HighPoint Advisor Group LLC bought a new stake in Tenaya Therapeutics in the fourth quarter valued at about $228,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. William Blair started coverage on Tenaya Therapeutics in a report on Monday, June 10th. They set an “outperform” rating on the stock. Canaccord Genuity Group reduced their price objective on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research note on Monday, July 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tenaya Therapeutics presently has an average rating of “Buy” and a consensus price target of $15.25.

Tenaya Therapeutics Price Performance

NASDAQ TNYA opened at $2.44 on Thursday. Tenaya Therapeutics, Inc. has a one year low of $1.66 and a one year high of $7.01. The firm has a market cap of $192.49 million, a P/E ratio of -1.49 and a beta of 2.39. The stock’s 50-day moving average is $3.09 and its 200-day moving average is $4.07.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.06. Equities analysts anticipate that Tenaya Therapeutics, Inc. will post -1.52 EPS for the current year.

Insider Buying and Selling

In related news, CEO Faraz Ali sold 9,748 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $2.89, for a total value of $28,171.72. Following the completion of the transaction, the chief executive officer now directly owns 188,331 shares of the company’s stock, valued at approximately $544,276.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 19,539 shares of company stock worth $56,468 over the last ninety days. Company insiders own 32.76% 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.