Tenaya Therapeutics (NASDAQ:TNYA) Releases Earnings Results, Beats Expectations By $0.04 EPS

Tenaya Therapeutics (NASDAQ:TNYAGet Free Report) posted its quarterly earnings results on Monday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04, Zacks reports.

Tenaya Therapeutics Stock Performance

TNYA stock opened at $0.73 on Tuesday. The stock has a market capitalization of $63.94 million, a P/E ratio of -0.51 and a beta of 2.83. Tenaya Therapeutics has a one year low of $0.39 and a one year high of $5.39. The company has a 50 day moving average price of $1.04 and a two-hundred day moving average price of $1.79.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Chardan Capital dropped their price objective on shares of Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Morgan Stanley dropped their price objective on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. HC Wainwright dropped their price objective on shares of Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Finally, Canaccord Genuity Group dropped their price objective on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Tenaya Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $6.25.

Read Our Latest Research Report on Tenaya Therapeutics

Insiders Place Their Bets

In other news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost 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. The trade was a 262.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 19,621 shares of company stock valued at $10,595. Company insiders own 32.76% of the company’s stock.

About Tenaya Therapeutics

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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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Earnings History for Tenaya Therapeutics (NASDAQ:TNYA)

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