Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives $4.00 Consensus Target Price from Brokerages

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $4.00.

A number of equities research analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Wall Street Zen downgraded shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Leerink Partners restated an “outperform” rating and set a $2.00 target price on shares of Tenaya Therapeutics in a research report on Thursday, March 12th. Morgan Stanley set a $2.00 price target on shares of Tenaya Therapeutics in a report on Thursday, January 8th. Finally, Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a research report on Thursday, March 5th.

Tenaya Therapeutics Price Performance

Shares of TNYA opened at $0.85 on Friday. The stock has a market capitalization of $184.10 million, a price-to-earnings ratio of -1.81 and a beta of 2.77. Tenaya Therapeutics has a 1 year low of $0.36 and a 1 year high of $2.35. The business’s 50 day simple moving average is $0.73 and its 200-day simple moving average is $0.92.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $7.50 million. On average, sell-side analysts expect that Tenaya Therapeutics will post -0.44 earnings per share for the current year.

Insider Activity

In other news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $0.56, for a total value of $1,966,622.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 8,594,047 shares of company stock valued at $5,430,207. 48.65% of the stock is owned by company insiders.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Scientech Research LLC purchased a new position in Tenaya Therapeutics during the third quarter worth $27,000. Integrity Wealth Solutions LLC purchased a new stake in shares of Tenaya Therapeutics in the first quarter valued at $27,000. Jefferies Financial Group Inc. bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth about $99,000. Persistent Asset Partners Ltd bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth about $117,000. Finally, Comerica Bank purchased a new position in shares of Tenaya Therapeutics during the 1st quarter worth about $50,000. 90.54% of the stock is currently owned by 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.