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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $4.50.

TNYA has been the topic of a number of recent research reports. Morgan Stanley set a $2.00 price objective on Tenaya Therapeutics in a research note on Thursday, January 8th. Chardan Capital reduced their price target on Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report 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 for the company in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Finally, HC Wainwright decreased their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, December 12th.

Insiders Place Their Bets

In other news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $0.68, for a total transaction of $2,758,469.64. Following the completion of the sale, the insider directly owned 2,348,183 shares in the company, valued at $1,596,764.44. This trade represents a 63.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 4,423,781 shares of company stock valued at $3,055,352. Corporate insiders own 48.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Scientech Research LLC purchased a new stake in Tenaya Therapeutics during the 3rd quarter worth approximately $27,000. Mirador Capital Partners LP boosted its stake in shares of Tenaya Therapeutics by 38.2% during the 3rd quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock valued at $38,000 after buying an additional 6,500 shares during the last quarter. Comerica Bank acquired a new stake in shares of Tenaya Therapeutics during the first quarter worth approximately $50,000. Savant Capital LLC bought a new stake in shares of Tenaya Therapeutics in the second quarter worth $52,000. Finally, CWM LLC raised its holdings in Tenaya Therapeutics by 25.2% in the second quarter. CWM LLC now owns 90,087 shares of the company’s stock valued at $55,000 after acquiring an additional 18,142 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Trading Down 1.7%

NASDAQ:TNYA opened at $0.62 on Tuesday. The firm’s fifty day simple moving average is $0.73 and its 200 day simple moving average is $1.15. Tenaya Therapeutics has a twelve month low of $0.36 and a twelve month high of $2.35. The firm has a market capitalization of $101.40 million, a price-to-earnings ratio of -0.79 and a beta of 3.18.

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.