Analysts Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) PT at $17.33

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.33.

Several analysts have recently issued reports on TNYA shares. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research note on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Chardan Capital reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th.

Tenaya Therapeutics Trading Up 2.8 %

TNYA opened at $1.47 on Monday. The company’s fifty day moving average price is $2.28 and its two-hundred day moving average price is $2.46. Tenaya Therapeutics has a 1-year low of $0.99 and a 1-year high of $7.01. The company has a market cap of $116.45 million, a price-to-earnings ratio of -1.02 and a beta of 2.89.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.07. As a group, equities analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp bought a new position in Tenaya Therapeutics during the third quarter valued at about $28,000. The Manufacturers Life Insurance Company grew its position in Tenaya Therapeutics by 43.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after buying an additional 7,000 shares during the period. Algert Global LLC purchased a new stake in Tenaya Therapeutics during the second quarter valued at about $74,000. SG Americas Securities LLC purchased a new stake in Tenaya Therapeutics during the third quarter valued at about $49,000. Finally, XTX Topco Ltd lifted 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 valued at $95,000 after purchasing an additional 16,687 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

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.