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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been given an average recommendation of “Buy” by the eight analysts that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.00.

TNYA has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research note on Monday, July 8th. Canaccord Genuity Group reduced their target price on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Finally, William Blair began coverage on shares of Tenaya Therapeutics in a research note on Monday, June 10th. They set an “outperform” rating for the company.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Tenaya Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after buying an additional 403,472 shares during the period. RA Capital Management L.P. grew its holdings in Tenaya Therapeutics by 4.5% during the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock worth $30,099,000 after acquiring an additional 247,703 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Tenaya Therapeutics by 90.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock worth $882,000 after acquiring an additional 80,212 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Tenaya Therapeutics in the 4th quarter worth about $228,000. Finally, NEOS Investment Management LLC acquired a new position in shares of Tenaya Therapeutics in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA opened at $3.88 on Monday. Tenaya Therapeutics has a one year low of $1.66 and a one year high of $7.01. The company has a market cap of $304.66 million, a price-to-earnings ratio of -2.37 and a beta of 2.42. The firm has a 50 day simple moving average of $3.57 and a 200 day simple moving average of $4.37.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.03. As a group, analysts expect that Tenaya Therapeutics will post -1.59 EPS for the current 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.