Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.00.

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Tenaya Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 6th. Weiss Ratings upgraded shares of Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th.

Tenaya Therapeutics Stock Performance

Shares of TNYA stock opened at $0.55 on Wednesday. Tenaya Therapeutics has a fifty-two week low of $0.53 and a fifty-two week high of $2.35. The firm has a market cap of $122.54 million, a P/E ratio of -1.03 and a beta of 2.87. The business’s 50 day moving average price is $0.68 and its 200-day moving average price is $0.74.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.13). The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. As a group, equities analysts predict that Tenaya Therapeutics will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TNYA. Empery Asset Management LP purchased a new position in shares of Tenaya Therapeutics in the 4th quarter valued at approximately $3,852,000. BlackRock Inc. purchased a new stake in Tenaya Therapeutics in the second quarter worth $2,963,000. Renaissance Technologies LLC grew its stake in Tenaya Therapeutics by 100.6% in the first quarter. Renaissance Technologies LLC now owns 3,713,761 shares of the company’s stock worth $2,571,000 after purchasing an additional 1,862,894 shares during the period. GSA Capital Partners LLP bought a new position in Tenaya Therapeutics in the second quarter worth $1,973,000. Finally, ADAR1 Capital Management LLC bought a new position in Tenaya Therapeutics in the second quarter worth $1,150,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

About Tenaya Therapeutics

Tenaya Therapeutics, Inc (NASDAQ:TNYA) is a biotechnology company focused on developing therapies for cardiovascular diseases. The company uses a combination of gene therapy, cell therapy, and precision medicine approaches to address the genetic and biological causes of heart disease, including conditions for which treatment options remain limited.

Tenaya’s research and development programs have included therapies designed to replace or correct disease-associated genes and restore the function of cardiac muscle cells.