Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Consensus Recommendation of “Buy” by Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received a consensus rating of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $15.40.

Several equities research analysts have weighed in on the stock. Chardan Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Tenaya Therapeutics in a report on Thursday, March 21st. Canaccord Genuity Group dropped their price objective on Tenaya Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a report on Tuesday, March 19th.

Insiders Place Their Bets

In related news, insider Timothy Hoey sold 4,681 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.86, for a total value of $27,430.66. Following the completion of the sale, the insider now directly owns 242,715 shares in the company, valued at approximately $1,422,309.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Timothy Hoey sold 4,681 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.86, for a total transaction of $27,430.66. Following the transaction, the insider now directly owns 242,715 shares of the company’s stock, valued at approximately $1,422,309.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Group Gp Lp Column III purchased 2,222,222 shares of the business’s stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $4.50 per share, with a total value of $9,999,999.00. Following the acquisition, the insider now directly owns 13,599,275 shares in the company, valued at $61,196,737.50. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 20,908 shares of company stock valued at $122,867. 33.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Tenaya Therapeutics in the 4th quarter worth about $25,000. Balyasny Asset Management LLC acquired a new stake in shares of Tenaya Therapeutics in the third quarter valued at approximately $29,000. Barclays PLC boosted its stake in shares of Tenaya Therapeutics by 70.5% in the fourth quarter. Barclays PLC now owns 15,279 shares of the company’s stock valued at $31,000 after buying an additional 6,319 shares during the period. Tower Research Capital LLC TRC grew its position in Tenaya Therapeutics by 162.8% during the third quarter. Tower Research Capital LLC TRC now owns 12,891 shares of the company’s stock worth $33,000 after buying an additional 7,986 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Tenaya Therapeutics during the third quarter worth approximately $38,000. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Down 4.9 %

Shares of TNYA stock opened at $4.46 on Friday. The firm has a market cap of $350.20 million, a price-to-earnings ratio of -2.67 and a beta of 2.60. Tenaya Therapeutics has a 12 month low of $1.66 and a 12 month high of $8.09. The stock has a 50-day moving average price of $5.29 and a 200 day moving average price of $3.52.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. Sell-side analysts predict that Tenaya Therapeutics will post -1.7 earnings per share for the current fiscal year.

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.