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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $4.00.

Several equities research analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Lifesci Capital raised Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th. Chardan Capital reaffirmed a “buy” rating and set a $8.00 target price on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Wall Street Zen downgraded Tenaya Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $2.00 target price on shares of Tenaya Therapeutics in a report on Thursday, March 12th.

Tenaya Therapeutics Price Performance

Shares of NASDAQ TNYA opened at $0.73 on Monday. Tenaya Therapeutics has a 12 month low of $0.53 and a 12 month high of $2.35. The company has a market cap of $158.54 million, a price-to-earnings ratio of -1.55 and a beta of 2.82. The business has a fifty day simple moving average of $0.77 and a 200-day simple moving average of $0.78.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Wednesday, May 6th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The company had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $7.50 million. As a group, sell-side analysts expect that Tenaya Therapeutics will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds have recently modified their holdings of TNYA. Comerica Bank purchased a new stake in shares of Tenaya Therapeutics during the first quarter valued at $50,000. AQR Capital Management LLC acquired a new position in Tenaya Therapeutics during the first quarter valued at $442,000. Woodline Partners LP raised its position in Tenaya Therapeutics by 30,563.2% during the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after buying an additional 5,896,873 shares during the period. Marshall Wace LLP acquired a new position in Tenaya Therapeutics during the second quarter valued at $90,000. Finally, Cerity Partners LLC raised its position in Tenaya Therapeutics by 403.5% during the second 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 period. 90.54% of the stock is owned by hedge funds and other institutional investors.

Tenaya Therapeutics Company 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.