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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.33.

Several analysts have issued reports on TNYA shares. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Chardan Capital reiterated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA opened at $1.59 on Thursday. Tenaya Therapeutics has a one year low of $0.99 and a one year high of $7.01. The firm’s 50 day simple moving average is $2.43 and its 200-day simple moving average is $2.68. The firm has a market cap of $125.96 million, a PE ratio of -1.10 and a beta of 2.72.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.07. Equities research analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after buying an additional 7,000 shares during the period. Rhumbline Advisers raised its position in shares of Tenaya Therapeutics by 10.5% during the 2nd quarter. Rhumbline Advisers now owns 78,160 shares of the company’s stock valued at $242,000 after buying an additional 7,441 shares in the last quarter. State Street Corp boosted its stake in Tenaya Therapeutics by 0.9% in the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after buying an additional 9,506 shares in the last quarter. Synovus Financial Corp bought a new stake in Tenaya Therapeutics in the third quarter valued at approximately $28,000. Finally, XTX Topco Ltd boosted its holdings in Tenaya Therapeutics by 51.2% in the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock valued at $95,000 after acquiring an additional 16,687 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.