Tenaya Therapeutics (NASDAQ:TNYA) Given New $9.00 Price Target at Chardan Capital

Tenaya Therapeutics (NASDAQ:TNYA) had its price objective cut by Chardan Capital from $18.00 to $9.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, HC Wainwright reduced their price target on Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $8.75.

Tenaya Therapeutics Price Performance

NASDAQ:TNYA opened at $0.60 on Wednesday. Tenaya Therapeutics has a 12-month low of $0.39 and a 12-month high of $5.55. The business has a 50 day simple moving average of $1.09 and a 200 day simple moving average of $1.84. The firm has a market capitalization of $47.56 million, a P/E ratio of -0.42 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. Research analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Transactions at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $0.70 per share, with a total value of $24,999,998.80. Following the purchase, the insider now owns 49,313,559 shares of the company’s stock, valued at approximately $34,519,491.30. This represents a 262.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 19,621 shares of company stock valued at $10,595. Corporate insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP acquired a new stake in shares of Tenaya Therapeutics during the fourth quarter worth $28,000. Trustees of Columbia University in the City of New York purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at $417,000. Nuveen Asset Management LLC lifted its holdings in shares of Tenaya Therapeutics by 25.2% during the fourth quarter. Nuveen Asset Management LLC now owns 345,192 shares of the company’s stock valued at $494,000 after purchasing an additional 69,377 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at $32,000. Finally, Deutsche Bank AG lifted its holdings in shares of Tenaya Therapeutics by 304.1% during the fourth quarter. Deutsche Bank AG now owns 129,319 shares of the company’s stock valued at $185,000 after purchasing an additional 97,318 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

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.