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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average rating of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.33.

TNYA has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a report on Tuesday. Chardan Capital reaffirmed a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th.

Tenaya Therapeutics Price Performance

TNYA opened at $1.40 on Monday. The firm has a market cap of $110.91 million, a PE ratio of -0.97 and a beta of 2.89. The stock has a 50-day moving average price of $2.24 and a 200-day moving average price of $2.45. Tenaya Therapeutics has a 1 year low of $0.99 and a 1 year high of $7.01.

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

Institutional Investors Weigh In On Tenaya Therapeutics

A number of large investors have recently made changes to their positions in the company. Synovus Financial Corp purchased a new position in shares of Tenaya Therapeutics in the third quarter worth approximately $28,000. The Manufacturers Life Insurance Company boosted its stake in shares of 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 acquiring an additional 7,000 shares during the last quarter. Algert Global LLC bought a new stake in shares of Tenaya Therapeutics during the 2nd quarter valued at $74,000. SG Americas Securities LLC purchased a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth $49,000. Finally, XTX Topco Ltd raised its holdings in Tenaya Therapeutics by 51.2% in the 3rd quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after purchasing an additional 16,687 shares during the period. 90.54% of the stock is currently owned by institutional investors.

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.