Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Update

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 12,420,000 shares, a drop of 25.6% from the December 15th total of 16,690,000 shares. Approximately 18.9% of the shares of the stock are short sold. Based on an average trading volume of 4,710,000 shares, the short-interest ratio is currently 2.6 days.

Tenaya Therapeutics Stock Performance

Shares of TNYA traded up $0.04 during trading hours on Wednesday, hitting $1.47. 1,526,757 shares of the stock were exchanged, compared to its average volume of 2,324,230. The stock’s 50-day moving average price is $2.28 and its two-hundred day moving average price is $2.46. Tenaya Therapeutics has a 12-month low of $0.99 and a 12-month high of $7.01. The company has a market cap of $116.45 million, a price-to-earnings ratio of -1.02 and a beta of 2.89.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. On average, research analysts expect that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Trading of Tenaya Therapeutics

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of Tenaya Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock worth $737,000 after purchasing an additional 26,103 shares during the last quarter. Rhumbline Advisers boosted its stake in Tenaya Therapeutics by 10.5% during the second quarter. Rhumbline Advisers now owns 78,160 shares of the company’s stock worth $242,000 after buying an additional 7,441 shares during the last quarter. American Century Companies Inc. grew its holdings in Tenaya Therapeutics by 27.7% in the 2nd quarter. American Century Companies Inc. now owns 102,114 shares of the company’s stock valued at $317,000 after buying an additional 22,146 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tenaya Therapeutics by 42.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 102,026 shares of the company’s stock worth $316,000 after acquiring an additional 30,446 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Tenaya Therapeutics by 144.1% during the 2nd quarter. Renaissance Technologies LLC now owns 157,460 shares of the company’s stock worth $488,000 after acquiring an additional 92,960 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analysts Set New Price Targets

TNYA has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Chardan Capital reiterated a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tenaya Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $17.33.

Tenaya Therapeutics Company Profile

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.