Tenaya Therapeutics (NASDAQ:TNYA) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Tenaya Therapeutics (NASDAQ:TNYA) released its quarterly earnings results on Monday. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03, Zacks reports.

Tenaya Therapeutics Stock Performance

Shares of Tenaya Therapeutics stock opened at $1.42 on Wednesday. Tenaya Therapeutics has a 1 year low of $0.36 and a 1 year high of $4.01. The firm’s 50-day simple moving average is $1.54 and its 200-day simple moving average is $0.99. The firm has a market cap of $231.43 million, a PE ratio of -1.82 and a beta of 3.13.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TNYA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Tenaya Therapeutics in a report on Tuesday, September 2nd. Chardan Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Tenaya Therapeutics in a report on Monday. Finally, Wall Street Zen raised shares of Tenaya Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tenaya Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $6.25.

Institutional Trading of Tenaya Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TNYA. Comerica Bank acquired a new stake in Tenaya Therapeutics during the first quarter valued at approximately $50,000. Cerity Partners LLC increased its holdings in shares of Tenaya Therapeutics by 403.5% in the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after acquiring an additional 88,424 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Tenaya Therapeutics in the 2nd quarter valued at approximately $90,000. Vanguard Group Inc. raised its position in shares of Tenaya Therapeutics by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,064,857 shares of the company’s stock valued at $8,205,000 after acquiring an additional 309,530 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Tenaya Therapeutics by 1,958.7% during the second quarter. Jane Street Group LLC now owns 376,068 shares of the company’s stock worth $230,000 after purchasing an additional 357,801 shares during the last quarter. 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.