Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Average Recommendation of “Buy” from Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.75.

TNYA has been the subject of several analyst reports. Chardan Capital cut their price target on Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research note on Monday. Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th.

Tenaya Therapeutics Stock Performance

Shares of TNYA stock opened at $3.29 on Friday. The company has a market capitalization of $260.64 million, a price-to-earnings ratio of -2.28 and a beta of 2.34. The firm has a 50-day moving average price of $2.09 and a 200 day moving average price of $2.84. Tenaya Therapeutics has a twelve month low of $1.61 and a twelve month high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.07. As a group, research analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of large investors have recently modified their holdings of TNYA. Synovus Financial Corp purchased a new stake in shares of Tenaya Therapeutics during the 3rd quarter worth about $28,000. Geode Capital Management LLC grew its stake in Tenaya Therapeutics by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after buying an additional 66,968 shares during the period. XTX Topco Ltd grew its stake in Tenaya Therapeutics by 51.2% during the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after buying an additional 16,687 shares during the period. Wellington Management Group LLP increased its position in shares of Tenaya Therapeutics by 35.6% in the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock worth $568,000 after acquiring an additional 77,235 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Tenaya Therapeutics by 0.9% in the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after acquiring an additional 9,506 shares during the period. 90.54% of the stock is currently 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.