Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Consensus Recommendation of “Buy” by Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received a consensus rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have covered the stock in the last year is $6.25.

A number of analysts have commented on the company. Chardan Capital reduced their target price on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Tenaya Therapeutics in a research report on Monday, March 31st. Morgan Stanley dropped their price target on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Canaccord Genuity Group decreased their price objective on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 13th.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA opened at $0.45 on Wednesday. The company has a market capitalization of $39.83 million, a PE ratio of -0.32 and a beta of 2.98. The business has a fifty day moving average price of $0.67 and a 200-day moving average price of $1.49. Tenaya Therapeutics has a 1-year low of $0.39 and a 1-year high of $4.96.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its earnings results on Monday, March 17th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.04. On average, sell-side analysts anticipate that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of Tenaya Therapeutics stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the purchase, the insider now directly owns 49,313,559 shares of the company’s stock, valued at approximately $34,519,491.30. This trade represents a 262.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 19,621 shares of company stock worth $10,595 in the last three months. 32.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp bought a new position in shares of Tenaya Therapeutics in the third quarter worth about $28,000. Woodline Partners LP purchased a new stake in Tenaya Therapeutics in the 4th quarter worth approximately $28,000. Commerce Bank bought a new stake in Tenaya Therapeutics during the 4th quarter worth approximately $29,000. Mariner LLC purchased a new position in Tenaya Therapeutics during the fourth quarter valued at approximately $30,000. Finally, Ground Swell Capital LLC bought a new position in shares of Tenaya Therapeutics in the fourth quarter worth approximately $32,000. 90.54% of the stock is currently owned by hedge funds and other 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.