Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives $4.00 Consensus PT from Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.00.

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tenaya Therapeutics in a research report on Thursday, July 2nd. Wall Street Zen downgraded Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th.

Tenaya Therapeutics Trading Up 0.8%

Shares of TNYA stock opened at $0.82 on Friday. The firm has a fifty day simple moving average of $0.79 and a two-hundred day simple moving average of $0.76. Tenaya Therapeutics has a 12 month low of $0.53 and a 12 month high of $2.35. The firm has a market capitalization of $178.94 million, a PE ratio of -1.75 and a beta of 2.83.

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

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors have recently bought and sold shares of TNYA. Integrity Wealth Solutions LLC purchased a new position in Tenaya Therapeutics during the 1st quarter worth $27,000. Scientech Research LLC purchased a new stake in shares of Tenaya Therapeutics in the third quarter valued at about $27,000. Comerica Bank bought a new position in shares of Tenaya Therapeutics during the first quarter valued at about $50,000. Cerity Partners LLC increased its stake in Tenaya Therapeutics by 403.5% in the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after buying an additional 88,424 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Tenaya Therapeutics in the fourth quarter valued at approximately $72,000. 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.