Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Average Recommendation of “Buy” from Brokerages

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $15.40.

Several research firms recently commented on TNYA. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research report on Tuesday, March 19th. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Tenaya Therapeutics in a report on Thursday, March 21st. Finally, Canaccord Genuity Group decreased their price objective on shares of Tenaya Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th.

Insider Transactions at Tenaya Therapeutics

In other news, insider Timothy Hoey sold 6,569 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $5.34, for a total value of $35,078.46. Following the transaction, the insider now directly owns 236,146 shares of the company’s stock, valued at $1,261,019.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Faraz Ali sold 6,358 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.86, for a total transaction of $37,257.88. Following the completion of the sale, the chief executive officer now directly owns 113,079 shares in the company, valued at $662,642.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Timothy Hoey sold 6,569 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $5.34, for a total transaction of $35,078.46. Following the sale, the insider now owns 236,146 shares of the company’s stock, valued at $1,261,019.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,908 shares of company stock valued at $122,867. Corporate insiders own 33.83% of the company’s stock.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TNYA. Price T Rowe Associates Inc. MD increased its position in Tenaya Therapeutics by 111.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,472,202 shares of the company’s stock worth $8,989,000 after purchasing an additional 2,357,950 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Tenaya Therapeutics during the fourth quarter worth about $2,081,000. FMR LLC increased its position in shares of Tenaya Therapeutics by 32.9% during the first quarter. FMR LLC now owns 3,760,296 shares of the company’s stock valued at $10,717,000 after acquiring an additional 929,820 shares during the last quarter. BlackRock Inc. increased its position in shares of Tenaya Therapeutics by 30.5% during the second quarter. BlackRock Inc. now owns 3,636,148 shares of the company’s stock valued at $21,344,000 after acquiring an additional 850,661 shares during the last quarter. Finally, RA Capital Management L.P. increased its position in shares of Tenaya Therapeutics by 10.7% during the third quarter. RA Capital Management L.P. now owns 6,718,483 shares of the company’s stock valued at $17,132,000 after acquiring an additional 651,000 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Tenaya Therapeutics Trading Up 0.7 %

Shares of Tenaya Therapeutics stock opened at $4.32 on Friday. Tenaya Therapeutics has a 12-month low of $1.66 and a 12-month high of $8.09. The firm has a market capitalization of $339.21 million, a price-to-earnings ratio of -2.59 and a beta of 2.60. The firm’s 50 day simple moving average is $5.24 and its two-hundred day simple moving average is $3.58.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Monday, March 18th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, sell-side analysts predict that Tenaya Therapeutics will post -1.7 EPS for the current fiscal year.

Tenaya Therapeutics Company Profile

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.