Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Consensus Rating of “Buy” from Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $15.40.

Several research firms have recently issued reports on TNYA. Canaccord Genuity Group cut their price objective on shares of Tenaya Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 21st. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a report on Tuesday, March 19th.

Insider Buying and Selling

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III purchased 2,222,222 shares of the stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $4.50 per share, with a total value of $9,999,999.00. Following the completion of the acquisition, the insider now owns 13,599,275 shares in the company, valued at $61,196,737.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tenaya Therapeutics news, CEO Faraz Ali sold 6,358 shares of Tenaya Therapeutics stock in a transaction on Friday, February 16th. The shares were sold at an average price of $5.86, for a total value of $37,257.88. Following the completion of the transaction, the chief executive officer now owns 113,079 shares of the company’s stock, valued at $662,642.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Group Gp Lp Column III bought 2,222,222 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $4.50 per share, for a total transaction of $9,999,999.00. Following the completion of the purchase, the insider now owns 13,599,275 shares in the company, valued at $61,196,737.50. The disclosure for this purchase can be found here. Insiders sold a total of 20,908 shares of company stock valued at $122,867 over the last 90 days. Insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of large investors have recently bought and sold shares of the business. Redwood Wealth Management Group LLC increased its position in shares of Tenaya Therapeutics by 38.0% in the fourth quarter. Redwood Wealth Management Group LLC now owns 16,350 shares of the company’s stock valued at $53,000 after buying an additional 4,500 shares in the last quarter. SG Americas Securities LLC acquired a new position in Tenaya Therapeutics during the third quarter worth $54,000. Pale Fire Capital SE purchased a new position in Tenaya Therapeutics during the third quarter valued at $72,000. Bailard Inc. acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter valued at about $107,000. Finally, NEOS Investment Management LLC purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Up 1.5 %

Shares of TNYA opened at $4.61 on Wednesday. The company has a 50 day moving average of $5.00 and a two-hundred day moving average of $3.77. Tenaya Therapeutics has a twelve month low of $1.66 and a twelve month high of $8.09. The company has a market cap of $361.98 million, a price-to-earnings ratio of -2.76 and a beta of 2.61.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Monday, March 18th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.05. On average, sell-side analysts expect that Tenaya Therapeutics will post -1.7 EPS for the current year.

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.