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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been given an average recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.33.

A number of analysts recently issued reports on the company. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Chardan Capital reissued a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research report on Tuesday, January 14th. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, October 18th.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors have recently bought and sold shares of TNYA. abrdn plc purchased a new stake in shares of Tenaya Therapeutics in the third quarter valued at about $1,063,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Tenaya Therapeutics by 204.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after buying an additional 226,466 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Tenaya Therapeutics by 144.1% in the second quarter. Renaissance Technologies LLC now owns 157,460 shares of the company’s stock valued at $488,000 after buying an additional 92,960 shares in the last quarter. Wellington Management Group LLP grew its holdings in Tenaya Therapeutics by 35.6% during the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock worth $568,000 after acquiring an additional 77,235 shares during the period. Finally, Integral Health Asset Management LLC raised its position in Tenaya Therapeutics by 3.3% in the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after acquiring an additional 75,000 shares in the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.

Tenaya Therapeutics Trading Up 0.7 %

TNYA stock opened at $1.40 on Monday. The company’s 50 day moving average is $2.21 and its two-hundred day moving average is $2.42. Tenaya Therapeutics has a twelve month low of $0.99 and a twelve month high of $7.01. The stock has a market cap of $110.91 million, a P/E ratio of -0.97 and a beta of 2.89.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.07. On average, equities research analysts predict that Tenaya Therapeutics will post -1.35 earnings per share 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.