Tenaya Therapeutics (NASDAQ:TNYA) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Tenaya Therapeutics (NASDAQ:TNYA) from a sell rating to a strong sell rating in a research note published on Saturday.

Separately, Weiss Ratings upgraded Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research 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 has an average rating of “Moderate Buy” and an average price target of $4.00.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA opened at $0.69 on Friday. The company has a market cap of $154.74 million, a price-to-earnings ratio of -1.30 and a beta of 2.83. The firm has a 50 day simple moving average of $0.76 and a 200 day simple moving average of $0.75. Tenaya Therapeutics has a one year low of $0.53 and a one year high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The business had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $10.00 million. As a group, analysts expect that Tenaya Therapeutics will post -0.42 EPS for the current year.

Institutional Trading of Tenaya Therapeutics

Institutional investors have recently modified their holdings of the business. Raiffeisen Bank International AG increased its holdings in Tenaya Therapeutics by 20.0% in the second quarter. Raiffeisen Bank International AG now owns 1,200,000 shares of the company’s stock valued at $882,000 after purchasing an additional 200,000 shares during the period. Stonepine Capital Management LLC acquired a new position in Tenaya Therapeutics during the 2nd quarter worth about $107,429,000. ADAR1 Capital Management LLC acquired a new position in Tenaya Therapeutics during the 2nd quarter worth about $1,150,000. Empery Asset Management LP bought a new stake in shares of Tenaya Therapeutics in the 2nd quarter valued at about $2,855,228. Finally, Callan Family Office LLC acquired a new stake in shares of Tenaya Therapeutics in the second quarter valued at about $37,000. 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.