Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.00.

A number of equities research analysts recently issued reports on TNYA shares. HC Wainwright lowered their price objective on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. William Blair restated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday. Morgan Stanley set a $2.00 price target on Tenaya Therapeutics in a report on Thursday, January 8th. Finally, Wall Street Zen downgraded Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday.

Insiders Place Their Bets

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of Tenaya Therapeutics stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $0.56, for a total transaction of $1,966,622.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 8,594,047 shares of company stock valued at $5,430,207 over the last quarter. Company insiders own 48.65% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

Institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC bought a new stake in shares of Tenaya Therapeutics during the 4th quarter worth $72,000. Sphera Funds Management LTD. bought a new position in Tenaya Therapeutics in the fourth quarter valued at $1,067,000. Millennium Management LLC increased its stake in Tenaya Therapeutics by 2.5% in the fourth quarter. Millennium Management LLC now owns 4,615,746 shares of the company’s stock valued at $3,284,000 after acquiring an additional 111,154 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Tenaya Therapeutics by 883.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 194,800 shares of the company’s stock valued at $139,000 after purchasing an additional 175,000 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in Tenaya Therapeutics during the fourth quarter valued at about $1,071,000. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Trading Down 4.5%

Tenaya Therapeutics stock opened at $0.85 on Friday. Tenaya Therapeutics has a 1-year low of $0.36 and a 1-year high of $2.35. The firm has a market capitalization of $139.57 million, a PE ratio of -1.37 and a beta of 3.22. The firm’s 50 day simple moving average is $0.73 and its 200 day simple moving average is $1.12.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). Research analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.