Empery Asset Management LP Buys Shares of 3,863,115 Tenaya Therapeutics, Inc. $TNYA

Empery Asset Management LP purchased a new position in shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) during the second quarter, Holdings Channel reports. The fund purchased 3,863,115 shares of the company’s stock, valued at approximately $2,855,228,000. Tenaya Therapeutics accounts for approximately 3.3% of Empery Asset Management LP’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Scientech Research LLC purchased a new stake in shares of Tenaya Therapeutics in the 3rd quarter valued at $27,000. Integrity Wealth Solutions LLC purchased a new position in Tenaya Therapeutics during the 1st quarter valued at about $27,000. Callan Family Office LLC purchased a new position in Tenaya Therapeutics during the 2nd quarter valued at about $37,000. Jefferies Financial Group Inc. purchased a new position in Tenaya Therapeutics during the 3rd quarter valued at about $99,000. 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 currently owned by hedge funds and other institutional investors.

Tenaya Therapeutics Trading Up 1.0%

Tenaya Therapeutics stock opened at $0.70 on Friday. The firm has a market capitalization of $156.36 million, a P/E ratio of -1.32 and a beta of 2.83. Tenaya Therapeutics, Inc. has a twelve month low of $0.53 and a twelve month high of $2.35. The stock’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.76.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The company had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $10.00 million. Sell-side analysts predict that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TNYA. Weiss Ratings upgraded shares of Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Tenaya Therapeutics 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.