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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.00.

A number of equities analysts have commented on TNYA shares. Canaccord Genuity Group reduced their target price on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, December 18th. William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th. Finally, Chardan Capital reissued a “buy” rating and issued a $8.00 price objective on shares of Tenaya Therapeutics in a research report on Thursday, March 12th.

Insider Buying and Selling

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $0.56, for a total value of $1,966,622.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 8,594,047 shares of company stock valued at $5,430,207 in the last three months. Company insiders own 48.65% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

Several hedge funds have recently modified their holdings of the stock. Mirador Capital Partners LP raised its position in shares of Tenaya Therapeutics by 38.2% in the 3rd quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock valued at $38,000 after purchasing an additional 6,500 shares during the last quarter. Scientech Research LLC purchased a new stake in Tenaya Therapeutics during the 3rd quarter worth approximately $27,000. Geode Capital Management LLC increased its stake in Tenaya Therapeutics by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,193,355 shares of the company’s stock valued at $849,000 after purchasing an additional 17,820 shares in the last quarter. Cetera Investment Advisers increased its stake in Tenaya Therapeutics by 107.0% during the 4th quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock valued at $76,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Tenaya Therapeutics in the third quarter worth $99,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Up 3.3%

Shares of TNYA stock opened at $0.74 on Wednesday. The firm has a market cap of $160.36 million, a price-to-earnings ratio of -1.19 and a beta of 2.99. Tenaya Therapeutics has a 52-week low of $0.36 and a 52-week high of $2.35. The company’s 50 day moving average is $0.72 and its 200 day moving average is $1.03.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, March 11th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

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.