Canaccord Genuity Group Reiterates “Buy” Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Canaccord Genuity Group restated their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research report report published on Friday, Benzinga reports. The firm currently has a $16.00 price target on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Friday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $15.25.

Tenaya Therapeutics Stock Performance

TNYA stock opened at $1.92 on Friday. The firm has a market cap of $151.47 million, a price-to-earnings ratio of -1.25 and a beta of 2.35. The firm has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $3.26. Tenaya Therapeutics has a one year low of $1.61 and a one year high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. As a group, equities analysts predict that Tenaya Therapeutics will post -1.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenaya Therapeutics

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the completion of the sale, the chief executive officer now owns 188,331 shares in the company, valued at approximately $544,276.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 19,539 shares of company stock worth $56,468. 32.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Tenaya Therapeutics by 16.4% in the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after purchasing an additional 403,472 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in Tenaya Therapeutics during the fourth quarter worth about $228,000. American Century Companies Inc. lifted its position in Tenaya Therapeutics by 27.7% during the second quarter. American Century Companies Inc. now owns 102,114 shares of the company’s stock worth $317,000 after buying an additional 22,146 shares during the period. Integral Health Asset Management LLC raised its holdings in shares of Tenaya Therapeutics by 3.3% in the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after purchasing an additional 75,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tenaya Therapeutics by 42.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 102,026 shares of the company’s stock worth $316,000 after purchasing an additional 30,446 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Company Profile

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.