Equities Analysts Issue Forecasts for TNYA FY2024 Earnings

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) – Analysts at HC Wainwright lifted their FY2024 earnings estimates for shares of Tenaya Therapeutics in a research report issued on Thursday, November 7th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings of ($1.35) per share for the year, up from their prior forecast of ($1.46). HC Wainwright has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Tenaya Therapeutics’ current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Tenaya Therapeutics’ Q4 2024 earnings at ($0.31) EPS, FY2025 earnings at ($1.34) EPS, FY2026 earnings at ($1.35) EPS, FY2027 earnings at ($1.07) EPS and FY2028 earnings at ($0.64) EPS.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.07.

Other equities analysts also recently issued reports about the company. Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Chardan Capital decreased their price objective on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.75.

Tenaya Therapeutics Trading Down 14.0 %

Shares of TNYA opened at $2.21 on Monday. The stock’s 50-day moving average price is $2.04 and its two-hundred day moving average price is $3.01. Tenaya Therapeutics has a 12 month low of $1.61 and a 12 month high of $7.01. The company has a market capitalization of $174.34 million, a PE ratio of -1.67 and a beta of 2.34.

Insiders Place Their Bets

In other news, CEO Faraz Ali sold 9,748 shares of Tenaya Therapeutics 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 sale, the chief executive officer now owns 188,331 shares in the company, valued at $544,276.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 19,539 shares of company stock worth $56,468. Corporate insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Several large investors have recently made changes to their positions in TNYA. RA Capital Management L.P. raised its stake in Tenaya Therapeutics by 4.5% during the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock worth $30,099,000 after buying an additional 247,703 shares during the period. Vanguard Group Inc. increased its holdings 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 valued at $14,973,000 after acquiring an additional 403,472 shares in the last quarter. Integral Health Asset Management LLC raised its position in shares of Tenaya Therapeutics by 3.3% during the second 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. abrdn plc bought a new position in shares of Tenaya Therapeutics in the 3rd quarter worth $1,063,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Tenaya Therapeutics by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock worth $737,000 after purchasing an additional 26,103 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.