Tenaya Therapeutics (NASDAQ:TNYA) Posts Earnings Results, Beats Expectations By $0.04 EPS

Tenaya Therapeutics (NASDAQ:TNYA) issued its quarterly earnings results on Monday. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04, Zacks reports.

Tenaya Therapeutics Stock Down 6.5 %

Shares of TNYA stock opened at $0.68 on Wednesday. Tenaya Therapeutics has a 12 month low of $0.39 and a 12 month high of $5.32. The firm has a market cap of $59.81 million, a PE ratio of -0.47 and a beta of 2.83. The stock has a 50 day moving average of $1.03 and a 200-day moving average of $1.78.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HC Wainwright cut their price objective on shares of Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Canaccord Genuity Group cut their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Chardan Capital lowered their price target on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Morgan Stanley lowered their price target on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.25.

Insider Transactions at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the purchase, the insider now owns 49,313,559 shares of the company’s stock, valued at $34,519,491.30. This trade represents a 262.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 19,621 shares of company stock worth $10,595 over the last three months. 32.76% of the stock is currently owned by insiders.

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.