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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.00.

TNYA has been the subject of several research reports. Wall Street Zen cut Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings raised shares of Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th.

Tenaya Therapeutics Stock Up 1.5%

NASDAQ:TNYA opened at $0.74 on Tuesday. The company’s 50 day moving average is $0.77 and its 200-day moving average is $0.76. Tenaya Therapeutics has a 12 month low of $0.53 and a 12 month high of $2.35. The firm has a market cap of $160.02 million, a price-to-earnings ratio of -1.39 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA) last posted 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 during the quarter, compared to analyst estimates of $10.00 million. Research analysts predict that Tenaya Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of large investors have recently bought and sold shares of the business. Woodline Partners LP grew its stake in shares of Tenaya Therapeutics by 30,563.2% during the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after purchasing an additional 5,896,873 shares during the last quarter. Empery Asset Management LP bought a new position in Tenaya Therapeutics in the 4th quarter worth approximately $3,852,000. Anson Funds Management LP acquired a new position in Tenaya Therapeutics during the 4th quarter worth $2,955,000. BlackRock Inc. acquired a new position in Tenaya Therapeutics during the 2nd quarter worth $2,963,000. Finally, Alyeska Investment Group L.P. bought a new position in Tenaya Therapeutics in the 4th quarter valued at $2,846,000. 90.54% of the stock is currently owned by institutional investors.

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.