Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One equities 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 analysts that have issued a report on the stock in the last year is $4.00.

Several equities analysts have commented on TNYA shares. Weiss Ratings raised Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. Wall Street Zen raised Tenaya Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, September 6th.

Tenaya Therapeutics Price Performance

NASDAQ TNYA opened at $0.56 on Wednesday. The firm has a market capitalization of $126.49 million, a price-to-earnings ratio of -1.06 and a beta of 2.87. The company’s fifty day moving average is $0.69 and its two-hundred day moving average is $0.74. Tenaya Therapeutics has a 52-week low of $0.53 and a 52-week high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The firm had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. As a group, sell-side analysts expect that Tenaya Therapeutics will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC acquired a new position in shares of Tenaya Therapeutics in the 2nd quarter valued at $26,000. Integrity Wealth Solutions LLC acquired a new stake in shares of Tenaya Therapeutics during the 1st quarter valued at about $27,000. Callan Family Office LLC acquired a new stake in shares of Tenaya Therapeutics during the 2nd quarter valued at about $37,000. Castleview Partners LLC bought a new stake in Tenaya Therapeutics in the first quarter valued at about $106,000. Finally, Squarepoint Ops LLC increased its stake in Tenaya Therapeutics by 89.3% in the second quarter. Squarepoint Ops LLC now owns 659,247 shares of the company’s stock valued at $487,000 after acquiring an additional 310,979 shares during the period. 90.54% of the stock is owned by institutional investors.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc (NASDAQ:TNYA) is a biotechnology company focused on developing therapies for cardiovascular diseases. The company uses a combination of gene therapy, cell therapy, and precision medicine approaches to address the genetic and biological causes of heart disease, including conditions for which treatment options remain limited.

Tenaya’s research and development programs have included therapies designed to replace or correct disease-associated genes and restore the function of cardiac muscle cells.