Empery Asset Management LP Invests $3.85 Million in Tenaya Therapeutics, Inc. $TNYA

Empery Asset Management LP acquired a new position in shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,414,101 shares of the company’s stock, valued at approximately $3,852,000. Tenaya Therapeutics accounts for approximately 3.4% of Empery Asset Management LP’s investment portfolio, making the stock its 7th biggest position. Empery Asset Management LP owned 3.25% of Tenaya Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TNYA. Comerica Bank acquired a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $50,000. AQR Capital Management LLC acquired a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $442,000. Woodline Partners LP grew its stake in shares of Tenaya Therapeutics by 30,563.2% during the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock worth $3,373,000 after purchasing an additional 5,896,873 shares during the period. Marshall Wace LLP acquired a new stake in shares of Tenaya Therapeutics during the 2nd quarter worth approximately $90,000. Finally, Cerity Partners LLC grew its stake in shares of Tenaya Therapeutics by 403.5% during the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock worth $67,000 after purchasing an additional 88,424 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Down 1.4%

Shares of TNYA opened at $0.70 on Thursday. Tenaya Therapeutics, Inc. has a 52-week low of $0.53 and a 52-week high of $2.35. The firm’s fifty day moving average is $0.77 and its two-hundred day moving average is $0.81. The stock has a market cap of $151.90 million, a PE ratio of -1.49 and a beta of 2.82.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $0.23 million for the quarter, compared to analyst estimates of $7.50 million. As a group, research analysts anticipate that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Chardan Capital reaffirmed a “buy” rating and set a $8.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Lifesci Capital raised shares of Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. Leerink Partners reissued an “outperform” rating and issued a $2.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Wall Street Zen cut shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, William Blair reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Tenaya Therapeutics 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.