Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Rating of “Moderate Buy” by Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.25.

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, October 8th. Chardan Capital decreased their price target on shares of Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Canaccord Genuity Group lowered their price objective on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Finally, HC Wainwright reduced their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a report on Friday, December 12th.

Tenaya Therapeutics Stock Performance

Shares of TNYA stock opened at $0.73 on Monday. The stock’s 50-day moving average is $1.16 and its two-hundred day moving average is $1.13. Tenaya Therapeutics has a 1 year low of $0.36 and a 1 year high of $2.35. The firm has a market cap of $122.33 million, a price-to-earnings ratio of -0.94 and a beta of 3.18.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Monday, November 10th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. As a group, research analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Trading of Tenaya Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP grew its stake in shares of Tenaya Therapeutics by 30,563.2% in the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after purchasing an additional 5,896,873 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Tenaya Therapeutics by 561.7% during the third quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock worth $7,297,000 after purchasing an additional 3,823,848 shares during the period. AQR Capital Management LLC purchased a new position in Tenaya Therapeutics in the 1st quarter valued at $442,000. Schonfeld Strategic Advisors LLC acquired a new position in Tenaya Therapeutics in the 3rd quarter valued at $755,000. Finally, GSA Capital Partners LLP purchased a new position in Tenaya Therapeutics during the 3rd quarter worth $748,000. 90.54% of the stock is owned by institutional investors and hedge funds.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.