Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Down 25.6% in December

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) was the target of a significant drop in short interest in 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. Based on an average trading volume of 4,710,000 shares, the short-interest ratio is presently 2.6 days. Approximately 18.9% of the company’s shares are short sold.

Tenaya Therapeutics Stock Down 5.1 %

Shares of Tenaya Therapeutics stock traded down $0.08 on Thursday, hitting $1.40. 1,412,139 shares of the company traded hands, compared to its average volume of 2,230,707. 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 $110.51 million, a PE ratio of -0.97 and a beta of 2.89. The company has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.45.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.07. Equities research analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. lifted its stake in shares of Tenaya Therapeutics by 204.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after buying an additional 226,466 shares during the last quarter. abrdn plc acquired a new position in Tenaya Therapeutics during the 3rd quarter worth $1,063,000. State Street Corp boosted its holdings in Tenaya Therapeutics by 0.9% during the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after acquiring an additional 9,506 shares during the period. XTX Topco Ltd grew 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 valued at $95,000 after purchasing an additional 16,687 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Tenaya Therapeutics by 5.4% in the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after purchasing an additional 66,968 shares during the period. Institutional investors own 90.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.