Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Recommendation of “Buy” by Analysts

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.25.

TNYA has been the topic of several analyst reports. HC Wainwright lowered their price target on shares of Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Morgan Stanley dropped their target price on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Chardan Capital decreased their price target on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, Canaccord Genuity Group dropped their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

Tenaya Therapeutics Trading Down 7.1 %

Shares of TNYA stock opened at $0.64 on Friday. Tenaya Therapeutics has a 12 month low of $0.39 and a 12 month high of $5.25. The stock has a market cap of $56.26 million, a P/E ratio of -0.45 and a beta of 2.83. The company has a 50 day simple moving average of $0.90 and a two-hundred day simple moving average of $1.69.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Monday, March 17th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. As a group, equities analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $0.70 per share, for a total transaction of $24,999,998.80. Following the acquisition, the insider now directly owns 49,313,559 shares of the company’s stock, valued at $34,519,491.30. This represents a 262.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 19,621 shares of company stock worth $10,595 in the last 90 days. 32.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP bought a new stake in Tenaya Therapeutics in the fourth quarter worth $28,000. Trustees of Columbia University in the City of New York purchased a new position in shares of Tenaya Therapeutics in the 4th quarter worth $417,000. Nuveen Asset Management LLC increased its holdings in shares of Tenaya Therapeutics by 25.2% in the 4th quarter. Nuveen Asset Management LLC now owns 345,192 shares of the company’s stock worth $494,000 after buying an additional 69,377 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Tenaya Therapeutics during the 4th quarter valued at about $32,000. Finally, Deutsche Bank AG lifted its holdings in shares of Tenaya Therapeutics by 304.1% in the 4th quarter. Deutsche Bank AG now owns 129,319 shares of the company’s stock valued at $185,000 after acquiring an additional 97,318 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

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.