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

Tenaya Therapeutics, Inc. (NASDAQ:TNYAGet Free Report) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 13,120,000 shares, an increase of 150.4% from the October 31st total of 5,240,000 shares. Currently, 20.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,310,000 shares, the days-to-cover ratio is presently 5.7 days.

Tenaya Therapeutics Stock Performance

Shares of Tenaya Therapeutics stock traded up $0.28 during midday trading on Friday, hitting $3.57. 4,624,728 shares of the company traded hands, compared to its average volume of 1,027,089. The stock has a market cap of $282.82 million, a price-to-earnings ratio of -2.48 and a beta of 2.34. The firm’s fifty day moving average price is $2.11 and its 200-day moving average price is $2.85. Tenaya Therapeutics has a 12 month low of $1.61 and a 12 month high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYAGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.07. Equities research analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

TNYA has been the topic of several recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a report on Monday. Chardan Capital decreased their target price on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tenaya Therapeutics has an average rating of “Buy” and an average target price of $14.75.

View Our Latest Research Report on TNYA

Institutional Investors Weigh In On Tenaya Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp acquired a new stake in Tenaya Therapeutics during the 3rd quarter worth approximately $28,000. SG Americas Securities LLC acquired a new stake in Tenaya Therapeutics during the 3rd quarter worth approximately $49,000. The Manufacturers Life Insurance Company boosted its position in Tenaya Therapeutics by 43.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after buying an additional 7,000 shares during the period. Algert Global LLC acquired a new stake in Tenaya Therapeutics during the 2nd quarter worth approximately $74,000. Finally, XTX Topco Ltd boosted its position in Tenaya Therapeutics by 51.2% during the 3rd quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after buying an additional 16,687 shares during the period. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Tenaya Therapeutics Company Profile

(Get Free Report)

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.

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