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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.25.

TNYA has been the topic of several recent analyst reports. HC Wainwright reduced their price target on 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 decreased their target price on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Chardan Capital cut their price target on shares of 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 decreased their price objective on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 13th.

Insider Activity at Tenaya Therapeutics

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were purchased 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 in the company, valued at approximately $34,519,491.30. This trade represents a 262.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 19,621 shares of company stock worth $10,595 over the last three months. 32.76% of the stock is owned by corporate insiders.

Institutional Trading of Tenaya Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp purchased a new position in shares of Tenaya Therapeutics in the 3rd quarter valued at $28,000. Woodline Partners LP purchased a new position in Tenaya Therapeutics in the fourth quarter valued at about $28,000. Commerce Bank bought a new position in Tenaya Therapeutics in the fourth quarter worth about $29,000. Mariner LLC purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at about $30,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Down 7.1 %

NASDAQ TNYA opened at $0.64 on Friday. Tenaya Therapeutics has a 52 week low of $0.39 and a 52 week high of $5.25. The firm has a market capitalization of $56.26 million, a price-to-earnings ratio of -0.45 and a beta of 2.83. The company has a fifty day moving average of $0.90 and a two-hundred day moving average of $1.69.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.04. Equities research analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current year.

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.