Analysts Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Target Price at $15.25

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been given an average rating of “Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.25.

Several brokerages recently weighed in on TNYA. Canaccord Genuity Group decreased their target price on Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. William Blair began coverage on Tenaya Therapeutics in a research report on Monday, June 10th. They issued an “outperform” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research note on Monday, July 8th.

Tenaya Therapeutics Trading Down 6.5 %

Shares of Tenaya Therapeutics stock opened at $2.72 on Friday. The firm has a fifty day simple moving average of $3.16 and a 200-day simple moving average of $4.24. The stock has a market capitalization of $214.58 million, a price-to-earnings ratio of -1.66 and a beta of 2.43. Tenaya Therapeutics has a 1-year low of $1.66 and a 1-year high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. As a group, research analysts predict that Tenaya Therapeutics will post -1.52 earnings per share for the current year.

Insider Activity

In other news, CEO Faraz Ali sold 9,748 shares of Tenaya Therapeutics stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.89, for a total transaction of $28,171.72. Following the sale, the chief executive officer now directly owns 188,331 shares in the company, valued at approximately $544,276.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 19,539 shares of company stock worth $56,468. 32.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenaya Therapeutics

Several institutional investors have recently bought and sold shares of TNYA. Vanguard Group Inc. raised its stake in Tenaya Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after acquiring an additional 403,472 shares in the last quarter. RA Capital Management L.P. increased its position in shares of Tenaya Therapeutics by 4.5% during the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock worth $30,099,000 after purchasing an additional 247,703 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Tenaya Therapeutics by 144.1% during the 2nd quarter. Renaissance Technologies LLC now owns 157,460 shares of the company’s stock valued at $488,000 after purchasing an additional 92,960 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Tenaya Therapeutics by 90.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock valued at $882,000 after purchasing an additional 80,212 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its stake in Tenaya Therapeutics by 3.3% during the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after buying an additional 75,000 shares during the last quarter. Institutional investors and hedge funds 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.