Tenaya Therapeutics (NASDAQ:TNYA) Releases Quarterly Earnings Results

Tenaya Therapeutics (NASDAQ:TNYA) announced its earnings results on Wednesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12), FiscalAI reports. The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $10.00 million.

Tenaya Therapeutics Stock Up 5.8%

Shares of NASDAQ TNYA traded up $0.04 during trading hours on Wednesday, hitting $0.78. The company had a trading volume of 3,427,028 shares, compared to its average volume of 3,758,613. The stock has a market capitalization of $170.28 million, a P/E ratio of -1.67 and a beta of 2.83. Tenaya Therapeutics has a 1-year low of $0.53 and a 1-year high of $2.35. The firm’s 50 day moving average is $0.77 and its 200-day moving average is $0.76.

Analyst Ratings Changes

A number of research analysts recently weighed in on TNYA shares. Wall Street Zen downgraded shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Tenaya Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $4.00.

Institutional Trading of Tenaya Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scientech Research LLC acquired a new stake in Tenaya Therapeutics in the third quarter valued at $27,000. Jefferies Financial Group Inc. acquired a new position in shares of Tenaya Therapeutics during the 3rd quarter worth about $99,000. Comerica Bank bought a new stake in shares of Tenaya Therapeutics in the 1st quarter valued at about $50,000. Corient Private Wealth LLC bought a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at about $72,000. Finally, Cetera Investment Advisers lifted its stake in Tenaya Therapeutics by 107.0% in the 4th quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock valued at $76,000 after purchasing an additional 55,000 shares during the last quarter. 90.54% of the stock is owned by institutional investors.

Tenaya Therapeutics Company Profile

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.