Tenaya Therapeutics (NASDAQ:TNYA) Stock Price Down 3.9% – What’s Next?

Tenaya Therapeutics, Inc. (NASDAQ:TNYA)’s share price traded down 3.9% during mid-day trading on Monday . The stock traded as low as $0.80 and last traded at $0.8365. Approximately 2,369,472 shares traded hands during trading, a decline of 6% from the average session volume of 2,526,854 shares. The stock had previously closed at $0.8704.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TNYA shares. Wall Street Zen lowered shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tenaya Therapeutics in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Tenaya Therapeutics Stock Performance

The stock has a market capitalization of $181.52 million, a price-to-earnings ratio of -1.78 and a beta of 2.83. The business has a fifty day simple moving average of $0.79 and a 200 day simple moving average of $0.75.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $0.23 million during the quarter, compared to analyst estimates of $7.50 million. On average, sell-side analysts forecast that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of hedge funds have recently added to or reduced their stakes in TNYA. Scientech Research LLC bought a new position in Tenaya Therapeutics during the 3rd quarter worth $27,000. Geode Capital Management LLC lifted its position in shares of Tenaya Therapeutics by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,193,355 shares of the company’s stock valued at $849,000 after acquiring an additional 17,820 shares during the period. Mirador Capital Partners LP lifted its position in shares of Tenaya Therapeutics by 2.0% during the 2nd quarter. Mirador Capital Partners LP now owns 905,097 shares of the company’s stock valued at $669,000 after acquiring an additional 18,180 shares during the period. Integrity Wealth Solutions LLC acquired a new stake in shares of Tenaya Therapeutics during the 1st quarter worth $27,000. Finally, Cetera Investment Advisers grew its holdings in shares of Tenaya Therapeutics by 107.0% during the 4th quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock worth $76,000 after purchasing an additional 55,000 shares in the last quarter. 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.