Lifesci Capital Has Strong Estimate for TNYA FY2024 Earnings

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) – Equities research analysts at Lifesci Capital increased their FY2024 earnings per share estimates for shares of Tenaya Therapeutics in a note issued to investors on Wednesday, November 6th. Lifesci Capital analyst C. Jubinville now expects that the company will earn ($1.39) per share for the year, up from their prior estimate of ($1.48). The consensus estimate for Tenaya Therapeutics’ current full-year earnings is ($1.40) per share. Lifesci Capital also issued estimates for Tenaya Therapeutics’ Q4 2024 earnings at ($0.35) EPS.

Several other brokerages also recently issued reports on TNYA. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price objective 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 research report on Friday, October 18th. Chardan Capital cut their price target on Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tenaya Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $14.75.

Tenaya Therapeutics Stock Down 14.0 %

Tenaya Therapeutics stock opened at $2.21 on Monday. The firm’s 50-day simple moving average is $2.04 and its 200 day simple moving average is $3.01. Tenaya Therapeutics has a 52 week low of $1.61 and a 52 week high of $7.01. The firm has a market capitalization of $174.34 million, a PE ratio of -1.67 and a beta of 2.34.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.07.

Insiders Place Their Bets

In related news, CEO Faraz Ali sold 9,748 shares of Tenaya Therapeutics 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 transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 19,539 shares of company stock valued at $56,468 over the last quarter. Company insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. RA Capital Management L.P. increased its position in 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 purchasing an additional 247,703 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tenaya Therapeutics by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after acquiring an additional 403,472 shares in the last quarter. Integral Health Asset Management LLC boosted its position in Tenaya Therapeutics by 3.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after purchasing an additional 75,000 shares during the period. abrdn plc purchased a new position in Tenaya Therapeutics in the third quarter valued at about $1,063,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 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.