Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Target Price at $17.33

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $17.33.

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

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA opened at $1.66 on Thursday. The stock’s 50-day moving average is $2.43 and its 200-day moving average is $2.64. The company has a market cap of $131.51 million, a P/E ratio of -1.15 and a beta of 2.72. Tenaya Therapeutics has a 52-week low of $0.99 and a 52-week high of $7.01.

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

Institutional Investors Weigh In On Tenaya Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Integral Health Asset Management LLC lifted its position in shares of 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 buying an additional 75,000 shares during the period. FMR LLC lifted its holdings in shares of Tenaya Therapeutics by 1.9% during the third quarter. FMR LLC now owns 1,345,938 shares of the company’s stock valued at $2,598,000 after acquiring an additional 25,503 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tenaya Therapeutics by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock valued at $2,502,000 after purchasing an additional 66,968 shares in the last quarter. State Street Corp boosted its stake in shares of Tenaya Therapeutics by 0.9% in the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after purchasing an additional 9,506 shares in the last quarter. Finally, abrdn plc bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth about $1,063,000. 90.54% of the stock is owned by institutional investors and hedge funds.

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.