Tenaya Therapeutics (NASDAQ:TNYA) Given New $5.00 Price Target at Morgan Stanley

Tenaya Therapeutics (NASDAQ:TNYA) had its price target dropped by investment analysts at Morgan Stanley from $15.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock.

Other equities analysts also recently issued reports about the company. Chardan Capital dropped their target price on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday. HC Wainwright dropped their target price on Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $6.25.

Tenaya Therapeutics Trading Up 11.6 %

Shares of TNYA opened at $0.67 on Wednesday. The firm has a market cap of $53.09 million, a P/E ratio of -0.47 and a beta of 2.83. Tenaya Therapeutics has a 12-month low of $0.39 and a 12-month high of $5.39. The company’s 50-day moving average price is $1.08 and its 200 day moving average price is $1.84.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04. Equities research analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the completion of the transaction, the insider now owns 49,313,559 shares in the company, valued at $34,519,491.30. This represents a 262.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 19,621 shares of company stock valued at $10,595 in the last three months. 32.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Tenaya Therapeutics by 20,670.3% during the fourth quarter. JPMorgan Chase & Co. now owns 5,155,596 shares of the company’s stock worth $7,373,000 after buying an additional 5,130,774 shares in the last quarter. FMR LLC grew its position in shares of Tenaya Therapeutics by 1.9% during the third quarter. FMR LLC now owns 1,345,938 shares of the company’s stock worth $2,598,000 after buying an additional 25,503 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 in the last quarter. State Street Corp boosted its holdings in Tenaya Therapeutics by 0.9% in the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after purchasing an additional 9,506 shares in the last quarter. Finally, abrdn plc boosted its holdings in Tenaya Therapeutics by 9.1% in the fourth quarter. abrdn plc now owns 600,700 shares of the company’s stock valued at $859,000 after purchasing an additional 50,000 shares in the last quarter. 90.54% of the stock is 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.