Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Rating of “Buy” by Brokerages

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.33.

Several brokerages have weighed in on TNYA. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research note on Monday, February 3rd. Chardan Capital reissued a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, December 18th.

Tenaya Therapeutics Stock Up 11.1 %

TNYA stock opened at $0.51 on Tuesday. The stock has a market cap of $40.06 million, a PE ratio of -0.35 and a beta of 2.83. The firm’s 50-day simple moving average is $1.13 and its 200 day simple moving average is $1.87. Tenaya Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $6.47.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.04. Equities analysts forecast 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 acquired 35,714,284 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $0.70 per share, with a total value of $24,999,998.80. Following the purchase, the insider now owns 49,313,559 shares of the company’s stock, valued at approximately $34,519,491.30. This represents a 262.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 19,621 shares of company stock valued at $10,595. 32.76% of the stock is owned by corporate insiders.

Institutional Trading of Tenaya Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its stake in shares of Tenaya Therapeutics by 204.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after buying an additional 226,466 shares in the last quarter. abrdn plc bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth $1,063,000. SG Americas Securities LLC raised its stake in shares of Tenaya Therapeutics by 61.9% in the 4th quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock worth $59,000 after buying an additional 15,777 shares in the last quarter. State Street Corp raised its stake in shares of Tenaya Therapeutics by 0.9% in the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after buying an additional 9,506 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Tenaya Therapeutics during the fourth quarter worth $53,000. Institutional investors own 90.54% of the company’s stock.

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.