Tenaya Therapeutics (NASDAQ:TNYA) Given Buy Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research report report published on Friday morning,Benzinga reports. They currently have a $9.00 price objective on the stock.

A number of other analysts have also commented on TNYA. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, April 25th. Canaccord Genuity Group reduced their price target on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Morgan Stanley lowered their price objective on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.25.

Tenaya Therapeutics Stock Performance

Tenaya Therapeutics stock opened at $0.41 on Friday. The firm has a market cap of $36.25 million, a price-to-earnings ratio of -0.29 and a beta of 2.99. Tenaya Therapeutics has a 1 year low of $0.39 and a 1 year high of $4.78. The firm’s 50 day moving average price is $0.53 and its two-hundred day moving average price is $1.37.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). As a group, equities analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the transaction, the insider now directly owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. This trade represents a 262.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 19,621 shares of company stock worth $10,595. 32.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors have recently made changes to their positions in the company. Woodline Partners LP bought a new position in Tenaya Therapeutics during the fourth quarter valued at approximately $28,000. Commerce Bank acquired a new position in shares of Tenaya Therapeutics during the 4th quarter worth $29,000. Mariner LLC bought a new position in shares of Tenaya Therapeutics during the 4th quarter valued at $30,000. Ground Swell Capital LLC acquired a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at $32,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Tenaya Therapeutics in the first quarter worth $33,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Tenaya Therapeutics Company Profile

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.