Tenaya Therapeutics (NASDAQ:TNYA) Rating Lowered to Sell at Wall Street Zen

Tenaya Therapeutics (NASDAQ:TNYA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also commented on TNYA. Leerink Partners reaffirmed an “outperform” rating and issued a $2.00 price target on shares of Tenaya Therapeutics in a report on Thursday. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a research note on Thursday, March 5th. William Blair reissued an “outperform” rating on shares of Tenaya Therapeutics in a report on Thursday. HC Wainwright lowered their target price on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Finally, Morgan Stanley set a $2.00 target price on Tenaya Therapeutics in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Tenaya Therapeutics Trading Down 4.5%

Shares of NASDAQ TNYA opened at $0.85 on Friday. The company has a 50 day simple moving average of $0.73 and a two-hundred day simple moving average of $1.12. The stock has a market cap of $139.57 million, a price-to-earnings ratio of -1.37 and a beta of 3.22. Tenaya Therapeutics has a 12 month low of $0.36 and a 12 month high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Analysts forecast that Tenaya Therapeutics will post -1.35 EPS for the current year.

Insider Buying and Selling

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of Tenaya Therapeutics stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $0.56, for a total value of $1,966,622.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 8,594,047 shares of company stock worth $5,430,207 in the last quarter. 48.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds have recently modified their holdings of the company. Scientech Research LLC acquired a new stake in shares of Tenaya Therapeutics during the 3rd quarter valued at about $27,000. Mirador Capital Partners LP raised its holdings in Tenaya Therapeutics by 38.2% in the 3rd quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock worth $38,000 after purchasing an additional 6,500 shares during the period. Comerica Bank purchased a new position in Tenaya Therapeutics during the first quarter worth approximately $50,000. Savant Capital LLC purchased a new position in Tenaya Therapeutics during the second quarter worth approximately $52,000. Finally, Cerity Partners LLC grew its holdings in Tenaya Therapeutics by 403.5% in the second quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after purchasing an additional 88,424 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

About Tenaya Therapeutics

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.