Chardan Capital Reiterates Buy Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating restated by equities research analysts at Chardan Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock.

A number of other equities analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, January 21st. Lifesci Capital raised Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th. Morgan Stanley set a $2.00 target price on Tenaya Therapeutics in a research note on Thursday, January 8th. HC Wainwright reduced their target price on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a report on Friday, December 12th. Finally, Canaccord Genuity Group decreased their price target on Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Tenaya Therapeutics Trading Down 4.1%

Shares of TNYA stock opened at $0.86 on Thursday. The firm’s 50 day moving average is $0.73 and its 200 day moving average is $1.12. The stock has a market capitalization of $140.60 million, a P/E ratio of -1.10 and a beta of 3.22. Tenaya Therapeutics has a 12 month low of $0.36 and a 12 month high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). On average, equities analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current year.

Insider Transactions at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $0.56, for a total transaction of $1,966,622.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 8,594,047 shares of company stock worth $5,430,207 over the last three months. 48.65% of the stock is currently owned by company insiders.

Institutional Trading of Tenaya Therapeutics

A number of large investors have recently modified their holdings of TNYA. Scientech Research LLC purchased a new position in shares of Tenaya Therapeutics during the third quarter worth about $27,000. Mirador Capital Partners LP lifted its position in Tenaya Therapeutics by 38.2% during the third quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock valued at $38,000 after purchasing an additional 6,500 shares during the last quarter. Comerica Bank purchased a new position in Tenaya Therapeutics in the 1st quarter worth approximately $50,000. Savant Capital LLC bought a new position in shares of Tenaya Therapeutics in the 2nd quarter worth $52,000. Finally, Cerity Partners LLC increased its holdings in shares of Tenaya Therapeutics by 403.5% in the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock worth $67,000 after buying an additional 88,424 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

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.