Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Target Price at $4.00

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $4.00.

Several research analysts have recently weighed in on TNYA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, January 21st. Chardan Capital reissued a “buy” rating and set a $8.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Canaccord Genuity Group reduced their target price on Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. William Blair restated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Finally, HC Wainwright lowered their price target on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, December 12th.

Insider Buying and Selling at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total value of $2,758,469.64. Following the sale, the insider directly owned 2,348,183 shares of the company’s stock, valued at $1,596,764.44. This trade represents a 63.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 8,594,047 shares of company stock valued at $5,430,207 in the last quarter. 48.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of institutional investors have recently made changes to their positions in TNYA. Corient Private Wealth LLC purchased a new stake in shares of Tenaya Therapeutics during the 4th quarter valued at $72,000. Sphera Funds Management LTD. bought a new stake in shares of Tenaya Therapeutics during the 4th quarter worth $1,067,000. Millennium Management LLC grew its position in Tenaya Therapeutics by 2.5% in the fourth quarter. Millennium Management LLC now owns 4,615,746 shares of the company’s stock worth $3,284,000 after acquiring an additional 111,154 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in Tenaya Therapeutics by 883.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 194,800 shares of the company’s stock valued at $139,000 after acquiring an additional 175,000 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in Tenaya Therapeutics in the fourth quarter valued at $1,071,000. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Trading Down 6.5%

TNYA stock opened at $0.75 on Friday. The firm has a 50 day moving average of $0.74 and a 200-day moving average of $1.11. The firm has a market capitalization of $123.00 million, a P/E ratio of -1.21 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 posted its earnings results on Wednesday, March 11th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Sell-side analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current 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.