HC Wainwright Cuts Tenaya Therapeutics (NASDAQ:TNYA) Price Target to $3.00

Tenaya Therapeutics (NASDAQ:TNYA) had its price target decreased by HC Wainwright from $5.00 to $3.00 in a research note published on Friday morning, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, October 8th. Chardan Capital reduced their price objective on Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Tenaya Therapeutics Stock Down 37.5%

Tenaya Therapeutics stock opened at $0.85 on Friday. The company has a market capitalization of $141.53 million, a PE ratio of -1.09 and a beta of 3.13. Tenaya Therapeutics has a 12-month low of $0.36 and a 12-month high of $2.95. The firm’s fifty day moving average is $1.50 and its 200 day moving average is $1.12.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. Sell-side analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Institutional Trading of Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNYA. Virtu Financial LLC raised its stake in shares of Tenaya Therapeutics by 29.4% in the first quarter. Virtu Financial LLC now owns 135,502 shares of the company’s stock worth $77,000 after purchasing an additional 30,790 shares during the last quarter. Nuveen LLC bought a new stake in Tenaya Therapeutics during the first quarter worth $129,000. Callan Family Office LLC purchased a new stake in Tenaya Therapeutics in the 1st quarter valued at $50,000. Comerica Bank purchased a new stake in Tenaya Therapeutics in the 1st quarter valued at $50,000. Finally, Ieq Capital LLC bought a new position in Tenaya Therapeutics during the 1st quarter valued at $95,000. 90.54% of the stock is owned by institutional investors.

About Tenaya Therapeutics

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.