Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Target Price at $6.25

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $6.25.

A number of analysts have issued reports on the company. Canaccord Genuity Group reduced their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Tenaya Therapeutics in a report on Friday, April 25th. Chardan Capital restated a “buy” rating and issued a $9.00 price target on shares of Tenaya Therapeutics in a report on Friday, May 9th. Finally, Morgan Stanley lowered their target price on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th.

Tenaya Therapeutics Stock Up 5.2%

Shares of TNYA opened at $0.62 on Thursday. The business’s 50 day moving average price is $0.49 and its 200-day moving average price is $1.02. The stock has a market cap of $101.23 million, a P/E ratio of -0.43 and a beta of 2.91. Tenaya Therapeutics has a 52 week low of $0.36 and a 52 week high of $4.06.

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

Hedge Funds Weigh In On Tenaya Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TNYA. Woodline Partners LP boosted its holdings in shares of Tenaya Therapeutics by 30,563.2% in the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after acquiring an additional 5,896,873 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Tenaya Therapeutics during the 1st quarter valued at approximately $442,000. DAFNA Capital Management LLC acquired a new position in shares of Tenaya Therapeutics during the 1st quarter worth $27,000. Ieq Capital LLC acquired a new position in shares of Tenaya Therapeutics during the 1st quarter worth approximately $95,000. Finally, Comerica Bank acquired a new position in Tenaya Therapeutics in the 1st quarter valued at about $50,000. 90.54% of the stock is 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.