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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $4.00.

A number of research firms have weighed in on TNYA. Wall Street Zen raised shares of Tenaya Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Chardan Capital reaffirmed a “buy” rating and set a $8.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Lifesci Capital raised shares of Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $2.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 12th.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of large investors have recently bought and sold shares of TNYA. Woodline Partners LP raised its stake in Tenaya Therapeutics by 30,563.2% during the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock worth $3,373,000 after purchasing an additional 5,896,873 shares during the period. Empery Asset Management LP acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter worth $3,852,000. Anson Funds Management LP acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter worth $2,955,000. Alyeska Investment Group L.P. acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter worth $2,846,000. Finally, Millennium Management LLC increased its position in shares of Tenaya Therapeutics by 561.7% in the third quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock worth $7,297,000 after acquiring an additional 3,823,848 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Performance

Shares of TNYA opened at $0.87 on Thursday. The company has a market capitalization of $188.79 million, a price-to-earnings ratio of -1.85 and a beta of 2.82. The company’s 50 day simple moving average is $0.76 and its 200 day simple moving average is $0.84. Tenaya Therapeutics has a 1 year low of $0.44 and a 1 year high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $7.50 million. Equities analysts expect that Tenaya Therapeutics will post -0.43 EPS for the current fiscal year.

Tenaya Therapeutics Company 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.