Tenaya Therapeutics (NASDAQ:TNYA) Price Target Cut to $18.00

Tenaya Therapeutics (NASDAQ:TNYA – Get Rating) had its price target dropped by equities research analysts at HC Wainwright from $25.00 to $18.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the stock.

A number of other research firms have also weighed in on TNYA. Chardan Capital reduced their target price on shares of Tenaya Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, November 11th. Morgan Stanley reduced their target price on shares of Tenaya Therapeutics from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $19.00.

Tenaya Therapeutics Price Performance

TNYA opened at $2.61 on Thursday. Tenaya Therapeutics has a fifty-two week low of $1.64 and a fifty-two week high of $14.43. The firm has a market capitalization of $108.00 million, a price-to-earnings ratio of -0.94 and a beta of 2.28. The company’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $2.89.

Insider Activity

In other news, Director David V. Goeddel acquired 1,500,000 shares of Tenaya Therapeutics stock in a transaction dated Wednesday, February 8th. The shares were bought at an average cost of $2.60 per share, with a total value of $3,900,000.00. Following the purchase, the director now owns 11,370,274 shares in the company, valued at approximately $29,562,712.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Group Gp Lp Column III bought 69,739 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The shares were bought at an average price of $2.50 per share, for a total transaction of $174,347.50. Following the transaction, the insider now directly owns 9,870,274 shares of the company’s stock, valued at $24,675,685. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David V. Goeddel bought 1,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were bought at an average price of $2.60 per share, for a total transaction of $3,900,000.00. Following the transaction, the director now directly owns 11,370,274 shares in the company, valued at $29,562,712.40. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,754,890 shares of company stock valued at $4,539,444. 34.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TNYA. JPMorgan Chase & Co. raised its holdings in Tenaya Therapeutics by 78.9% during the first quarter. JPMorgan Chase & Co. now owns 21,876 shares of the company’s stock worth $258,000 after buying an additional 9,647 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Tenaya Therapeutics by 85.2% during the first quarter. Bank of New York Mellon Corp now owns 73,314 shares of the company’s stock worth $864,000 after buying an additional 33,726 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Tenaya Therapeutics by 219.7% during the first quarter. MetLife Investment Management LLC now owns 18,722 shares of the company’s stock worth $221,000 after buying an additional 12,865 shares during the last quarter. Rhumbline Advisers raised its holdings in Tenaya Therapeutics by 124.6% during the first quarter. Rhumbline Advisers now owns 22,798 shares of the company’s stock worth $269,000 after buying an additional 12,646 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Tenaya Therapeutics by 29.7% during the first quarter. BlackRock Inc. now owns 2,428,872 shares of the company’s stock worth $28,611,000 after buying an additional 555,928 shares during the last quarter.

Tenaya Therapeutics Company Profile

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Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through cellular regeneration, gene therapy, and precision medicine platforms. The company is developing TN-201, an adeno-associated virus (AAV)-based gene therapy to address genetic hypertrophic cardiomyopathy (gHCM) caused by haploinsufficient myosin binding protein C3 (MYBPC3) gene mutations; and TN-301, a small molecule inhibitor of histone deacetylase 6 (HDAC6i) for use in heart failure with preserved ejection fraction (HFpEF) and genetic dilated cardiomyopathy (gDCM).