Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Update

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 12,420,000 shares, a decline of 25.6% from the December 15th total of 16,690,000 shares. Based on an average daily volume of 4,710,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 18.9% of the company’s shares are short sold.

Institutional Trading of Tenaya Therapeutics

A number of large investors have recently modified their holdings of TNYA. Integral Health Asset Management LLC grew its stake in Tenaya Therapeutics by 3.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after purchasing an additional 75,000 shares in the last quarter. FMR LLC boosted its stake in shares of Tenaya Therapeutics by 1.9% in the 3rd quarter. FMR LLC now owns 1,345,938 shares of the company’s stock valued at $2,598,000 after buying an additional 25,503 shares during the period. Geode Capital Management LLC grew its position in shares of Tenaya Therapeutics by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after buying an additional 66,968 shares in the last quarter. State Street Corp grew its position in shares of Tenaya Therapeutics by 0.9% during the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after buying an additional 9,506 shares in the last quarter. Finally, abrdn plc acquired a new stake in Tenaya Therapeutics in the third quarter valued at approximately $1,063,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TNYA. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a research note on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Chardan Capital restated a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Finally, Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tenaya Therapeutics presently has a consensus rating of “Buy” and an average target price of $17.33.

Tenaya Therapeutics Stock Up 2.8 %

NASDAQ:TNYA traded up $0.04 on Wednesday, reaching $1.47. 1,526,757 shares of the company’s stock were exchanged, compared to its average volume of 2,324,230. The firm has a market capitalization of $116.45 million, a price-to-earnings ratio of -1.02 and a beta of 2.89. Tenaya Therapeutics has a 52-week low of $0.99 and a 52-week high of $7.01. The business has a fifty day moving average of $2.28 and a 200-day moving average of $2.46.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.07. As a group, equities analysts anticipate that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

About Tenaya Therapeutics

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.