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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.75.

Several research analysts recently commented on TNYA shares. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Chardan Capital cut their target price on Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Monday.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA opened at $3.29 on Friday. The company has a 50 day moving average of $2.09 and a two-hundred day moving average of $2.84. Tenaya Therapeutics has a 52-week low of $1.61 and a 52-week high of $7.01. The company has a market capitalization of $260.64 million, a price-to-earnings ratio of -2.28 and a beta of 2.34.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. On average, equities analysts anticipate that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

Institutional investors have recently made changes to their positions in the company. abrdn plc bought a new position in Tenaya Therapeutics during the third quarter worth $1,063,000. Vanguard Group Inc. raised its holdings in shares of Tenaya Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after purchasing an additional 403,472 shares during the period. American Century Companies Inc. lifted its position in shares of Tenaya Therapeutics by 27.7% in the 2nd quarter. American Century Companies Inc. now owns 102,114 shares of the company’s stock worth $317,000 after buying an additional 22,146 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tenaya Therapeutics by 42.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 102,026 shares of the company’s stock valued at $316,000 after buying an additional 30,446 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Tenaya Therapeutics during the 2nd quarter valued at about $74,000. 90.54% of the stock is currently owned by institutional investors.

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.