Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Average Rating of “Moderate Buy” from Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.25.

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised shares of Tenaya Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Chardan Capital reaffirmed a “buy” rating and issued a $9.00 price target on shares of Tenaya Therapeutics in a report on Thursday, August 7th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Tenaya Therapeutics in a research note on Tuesday, September 2nd.

Tenaya Therapeutics Stock Performance

NASDAQ TNYA opened at $1.83 on Wednesday. Tenaya Therapeutics has a one year low of $0.36 and a one year high of $4.01. The company has a 50-day simple moving average of $1.43 and a 200-day simple moving average of $0.87. The firm has a market capitalization of $298.25 million, a PE ratio of -1.91 and a beta of 3.15.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. Equities analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen LLC acquired a new position in Tenaya Therapeutics during the 1st quarter valued at about $129,000. Wealth Enhancement Advisory Services LLC acquired a new position in Tenaya Therapeutics during the 1st quarter valued at about $33,000. Ieq Capital LLC acquired a new position in Tenaya Therapeutics during the 1st quarter valued at about $95,000. DAFNA Capital Management LLC acquired a new position in Tenaya Therapeutics during the 1st quarter valued at about $27,000. Finally, CWM LLC boosted its stake in Tenaya Therapeutics by 14,231.7% during the 1st quarter. CWM LLC now owns 71,945 shares of the company’s stock valued at $41,000 after purchasing an additional 71,443 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

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.