Tenaya Therapeutics (NASDAQ:TNYA) Releases Quarterly Earnings Results, Meets Estimates

Tenaya Therapeutics (NASDAQ:TNYA) issued its earnings results on Wednesday. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12), FiscalAI reports.

Tenaya Therapeutics Stock Performance

NASDAQ TNYA traded down $0.04 during trading on Wednesday, reaching $0.86. The company’s stock had a trading volume of 5,683,525 shares, compared to its average volume of 4,793,436. The business’s fifty day moving average price is $0.72 and its 200-day moving average price is $1.12. Tenaya Therapeutics has a twelve month low of $0.36 and a twelve month high of $2.35. The firm has a market cap of $140.60 million, a price-to-earnings ratio of -1.10 and a beta of 3.22.

Wall Street Analysts Forecast Growth

TNYA has been the subject of a number of research reports. Lifesci Capital raised shares of Tenaya Therapeutics to a “strong-buy” rating in a research report on Thursday, March 5th. HC Wainwright cut their target price on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Chardan Capital reduced their target price on Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group dropped their price target on Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Insider Buying and Selling at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $0.56, for a total transaction of $1,966,622.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 8,594,047 shares of company stock worth $5,430,207 in the last three months. 48.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank acquired a new position in shares of Tenaya Therapeutics in the first quarter valued at approximately $50,000. AQR Capital Management LLC acquired a new stake in shares of Tenaya Therapeutics during the first quarter worth $442,000. Woodline Partners LP grew its position in Tenaya Therapeutics by 30,563.2% in the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after buying an additional 5,896,873 shares during the last quarter. Marshall Wace LLP purchased a new position in Tenaya Therapeutics in the 2nd quarter valued at $90,000. Finally, Cerity Partners LLC increased its stake in Tenaya Therapeutics by 403.5% in the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after buying an additional 88,424 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

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.