HC Wainwright Reiterates “Buy” Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $18.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, Chardan Capital restated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tenaya Therapeutics has a consensus rating of “Buy” and an average price target of $17.33.

Tenaya Therapeutics Stock Down 1.4 %

NASDAQ TNYA traded down $0.02 on Monday, hitting $1.05. The stock had a trading volume of 1,048,216 shares, compared to its average volume of 1,958,221. The company’s 50-day moving average is $2.01 and its two-hundred day moving average is $2.28. The stock has a market cap of $82.78 million, a price-to-earnings ratio of -0.73 and a beta of 2.84. Tenaya Therapeutics has a one year low of $0.99 and a one year high of $7.01.

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

Institutional Investors Weigh In On Tenaya Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in shares of Tenaya Therapeutics by 43.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after buying an additional 7,000 shares during the last quarter. State Street Corp boosted its holdings in shares of Tenaya Therapeutics by 0.9% in the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after buying an additional 9,506 shares during the period. Synovus Financial Corp bought a new stake in shares of Tenaya Therapeutics in the third quarter worth $28,000. SG Americas Securities LLC lifted its position in shares of Tenaya Therapeutics by 61.9% in the fourth quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock worth $59,000 after purchasing an additional 15,777 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Tenaya Therapeutics by 51.2% in the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after purchasing an additional 16,687 shares in the last quarter. 90.54% of the stock is owned by institutional investors.

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.