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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $4.00.

TNYA has been the topic of several research reports. Chardan Capital reaffirmed a “buy” rating and set a $8.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Wall Street Zen raised Tenaya Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Leerink Partners reaffirmed an “outperform” rating and set a $2.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Lifesci Capital raised Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th.

Hedge Funds Weigh In On Tenaya Therapeutics

Large investors have recently made changes to their positions in the company. Scientech Research LLC acquired a new position in shares of Tenaya Therapeutics during the third quarter valued at $27,000. Integrity Wealth Solutions LLC acquired a new position in Tenaya Therapeutics in the first quarter valued at about $27,000. Jefferies Financial Group Inc. acquired a new position in Tenaya Therapeutics in the third quarter valued at about $99,000. Persistent Asset Partners Ltd acquired a new position in Tenaya Therapeutics in the third quarter valued at about $117,000. Finally, Comerica Bank acquired a new position in Tenaya Therapeutics in the first quarter valued at about $50,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Performance

Tenaya Therapeutics stock opened at $0.79 on Thursday. The firm has a market cap of $171.89 million, a P/E ratio of -1.69 and a beta of 2.77. The business’s fifty day moving average is $0.76 and its two-hundred day moving average is $0.85. Tenaya Therapeutics has a 52 week low of $0.43 and a 52 week high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The business had revenue of $0.23 million during the quarter, compared to analyst estimates of $7.50 million. On average, equities research analysts predict that Tenaya Therapeutics will post -0.43 earnings per share for the current year.

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.