Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives $15.25 Consensus Price Target from Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.25.

TNYA has been the subject of several research analyst reports. Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price target on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th.

Tenaya Therapeutics Price Performance

Shares of TNYA stock opened at $1.94 on Wednesday. The company has a 50-day moving average of $2.08 and a two-hundred day moving average of $3.10. The firm has a market cap of $153.04 million, a PE ratio of -1.27 and a beta of 2.34. Tenaya Therapeutics has a 1-year low of $1.61 and a 1-year high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.06. Sell-side analysts anticipate that Tenaya Therapeutics will post -1.52 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TNYA. Vanguard Group Inc. increased its holdings in Tenaya Therapeutics by 16.4% in the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after buying an additional 403,472 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Tenaya Therapeutics by 90.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock valued at $882,000 after acquiring an additional 80,212 shares during the last quarter. RA Capital Management L.P. raised its position in shares of Tenaya Therapeutics by 4.5% during the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock worth $30,099,000 after acquiring an additional 247,703 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Tenaya Therapeutics by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock worth $737,000 after purchasing an additional 26,103 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Tenaya Therapeutics in the second quarter valued at approximately $164,000. 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.