Tenaya Therapeutics (NASDAQ:TNYA) Given “Buy” Rating at HC Wainwright

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $5.00 target price on the stock.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group cut their target price on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. 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, March 12th. Finally, Morgan Stanley cut their target price on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.25.

Tenaya Therapeutics Stock Down 4.6 %

TNYA opened at $0.54 on Monday. The stock has a market capitalization of $47.65 million, a price-to-earnings ratio of -0.38 and a beta of 2.83. Tenaya Therapeutics has a twelve month low of $0.39 and a twelve month high of $5.10. The company has a 50-day simple moving average of $0.87 and a 200 day simple moving average of $1.66.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. Sell-side analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Transactions at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of Tenaya Therapeutics stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the acquisition, the insider now owns 49,313,559 shares of the company’s stock, valued at $34,519,491.30. This trade represents a 262.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 19,621 shares of company stock valued at $10,595. Corporate insiders own 32.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Tenaya Therapeutics by 0.9% during the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after purchasing an additional 9,506 shares during the period. Synovus Financial Corp bought a new position in shares of Tenaya Therapeutics in the third quarter valued at approximately $28,000. SG Americas Securities LLC boosted its holdings in Tenaya Therapeutics by 61.9% during the 4th quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock worth $59,000 after acquiring an additional 15,777 shares during the last quarter. XTX Topco Ltd boosted its holdings 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 purchasing an additional 16,687 shares during the last quarter. Finally, Atticus Wealth Management LLC boosted its stake in shares of Tenaya Therapeutics by 56.3% in the 4th quarter. Atticus Wealth Management LLC now owns 47,762 shares of the company’s stock worth $68,000 after buying an additional 17,199 shares during the last quarter. 90.54% of the stock is 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.