Tenaya Therapeutics’ (TNYA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a report issued on Friday morning, MarketBeat Ratings reports. HC Wainwright currently has a $18.00 price objective on the stock.

Tenaya Therapeutics Trading Down 5.9 %

TNYA stock opened at $1.92 on Friday. The company has a market capitalization of $151.47 million, a P/E ratio of -1.25 and a beta of 2.35. The firm has a 50 day simple moving average of $2.25 and a 200-day simple moving average of $3.26. Tenaya Therapeutics has a twelve month low of $1.61 and a twelve month high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. On average, research analysts predict that Tenaya Therapeutics will post -1.52 EPS for the current year.

Insider Buying and Selling at Tenaya Therapeutics

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the sale, the chief executive officer now directly owns 188,331 shares in the company, valued at approximately $544,276.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 19,539 shares of company stock worth $56,468. 32.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Tenaya Therapeutics during the third quarter valued at about $49,000. The Manufacturers Life Insurance Company increased its stake in Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after purchasing an additional 7,000 shares in the last quarter. Algert Global LLC purchased a new position in Tenaya Therapeutics in the 2nd quarter worth about $74,000. Panagora Asset Management Inc. purchased a new position in Tenaya Therapeutics in the 2nd quarter worth about $164,000. Finally, HighPoint Advisor Group LLC purchased a new position in Tenaya Therapeutics during the 4th quarter valued at about $228,000. 90.54% of the stock is currently owned by 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.