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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $4.00.

Several equities research analysts have issued reports on TNYA shares. Leerink Partners restated an “outperform” rating and issued a $2.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th. William Blair restated an “outperform” rating on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Wall Street Zen upgraded Tenaya Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Chardan Capital restated a “buy” rating and issued a $8.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Scientech Research LLC bought a new position in shares of Tenaya Therapeutics during the third quarter worth about $27,000. Geode Capital Management LLC grew its holdings in shares of Tenaya Therapeutics by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,193,355 shares of the company’s stock worth $849,000 after buying an additional 17,820 shares in the last quarter. Integrity Wealth Solutions LLC bought a new position in shares of Tenaya Therapeutics during the first quarter worth about $27,000. Cetera Investment Advisers grew its holdings in shares of Tenaya Therapeutics by 107.0% during the fourth quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock worth $76,000 after buying an additional 55,000 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Tenaya Therapeutics during the third quarter valued at approximately $99,000. 90.54% of the stock is currently owned by institutional investors.

Tenaya Therapeutics Trading Up 1.3%

NASDAQ:TNYA opened at $0.79 on Thursday. Tenaya Therapeutics has a 1-year low of $0.43 and a 1-year high of $2.35. The business’s 50-day moving average price is $0.76 and its two-hundred day moving average price is $0.85. The firm has a market capitalization of $171.89 million, a price-to-earnings ratio of -1.69 and a beta of 2.77.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $0.23 million during the quarter, compared to the consensus estimate of $7.50 million. Sell-side analysts predict that Tenaya Therapeutics will post -0.43 earnings per share for the current 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.