Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Price Target at $15.40

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average recommendation of “Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.40.

A number of research analysts have issued reports on TNYA shares. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Tenaya Therapeutics in a report on Thursday, March 21st. Canaccord Genuity Group reduced their target price on shares of Tenaya Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a report on Tuesday, March 19th.

Tenaya Therapeutics Stock Up 0.7 %

Tenaya Therapeutics stock opened at $4.32 on Friday. The firm has a market capitalization of $339.21 million, a PE ratio of -2.59 and a beta of 2.60. The firm’s 50-day simple moving average is $5.24 and its 200 day simple moving average is $3.58. Tenaya Therapeutics has a 52 week low of $1.66 and a 52 week high of $8.09.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Monday, March 18th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, research analysts expect that Tenaya Therapeutics will post -1.7 EPS for the current fiscal year.

Insider Transactions at Tenaya Therapeutics

In other news, CEO Faraz Ali sold 6,358 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.86, for a total transaction of $37,257.88. Following the transaction, the chief executive officer now directly owns 113,079 shares in the company, valued at approximately $662,642.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Faraz Ali sold 6,358 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.86, for a total transaction of $37,257.88. Following the completion of the sale, the chief executive officer now owns 113,079 shares of the company’s stock, valued at approximately $662,642.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Timothy Hoey sold 4,681 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.86, for a total transaction of $27,430.66. Following the sale, the insider now directly owns 242,715 shares of the company’s stock, valued at approximately $1,422,309.90. The disclosure for this sale can be found here. Insiders have sold a total of 20,908 shares of company stock worth $122,867 in the last three months. Company insiders own 33.83% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TNYA. JPMorgan Chase & Co. increased its position in Tenaya Therapeutics by 78.9% during the 1st quarter. JPMorgan Chase & Co. now owns 21,876 shares of the company’s stock worth $258,000 after purchasing an additional 9,647 shares in the last quarter. Bank of New York Mellon Corp grew its position in Tenaya Therapeutics by 85.2% in the first quarter. Bank of New York Mellon Corp now owns 73,314 shares of the company’s stock valued at $864,000 after acquiring an additional 33,726 shares in the last quarter. MetLife Investment Management LLC grew its position in Tenaya Therapeutics by 219.7% in the first quarter. MetLife Investment Management LLC now owns 18,722 shares of the company’s stock valued at $221,000 after acquiring an additional 12,865 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Tenaya Therapeutics by 124.6% during the first quarter. Rhumbline Advisers now owns 22,798 shares of the company’s stock valued at $269,000 after purchasing an additional 12,646 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Tenaya Therapeutics by 29.7% during the first quarter. BlackRock Inc. now owns 2,428,872 shares of the company’s stock valued at $28,611,000 after purchasing an additional 555,928 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

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.