Chardan Capital Reiterates “Buy” Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Chardan Capital reiterated their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a report published on Friday morning,Benzinga reports. Chardan Capital currently has a $9.00 price target on the stock.

TNYA has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Tenaya Therapeutics in a report on Friday, April 25th. Canaccord Genuity Group lowered their price objective on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley cut their target price on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Tenaya Therapeutics presently has an average rating of “Buy” and a consensus price target of $6.25.

Tenaya Therapeutics Trading Down 6.1 %

NASDAQ TNYA opened at $0.41 on Friday. Tenaya Therapeutics has a 1 year low of $0.39 and a 1 year high of $4.78. The company has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $1.37. The company has a market cap of $36.25 million, a P/E ratio of -0.29 and a beta of 2.99.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). Equities research analysts forecast that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Activity

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the purchase, the insider now directly owns 49,313,559 shares of the company’s stock, valued at approximately $34,519,491.30. This represents a 262.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 19,621 shares of company stock worth $10,595. Company insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TNYA. SG Americas Securities LLC raised its position in Tenaya Therapeutics by 61.9% in the fourth quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock worth $59,000 after purchasing an additional 15,777 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Tenaya Therapeutics by 56.3% in the 4th quarter. Atticus Wealth Management LLC now owns 47,762 shares of the company’s stock worth $68,000 after buying an additional 17,199 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Tenaya Therapeutics in the 4th quarter worth approximately $53,000. abrdn plc lifted its position in shares of Tenaya Therapeutics by 9.1% during the 4th quarter. abrdn plc now owns 600,700 shares of the company’s stock worth $859,000 after buying an additional 50,000 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in Tenaya Therapeutics in the 4th quarter valued at $64,000. 90.54% of the stock is 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.