Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Update

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,090,000 shares, an increase of 21.2% from the March 15th total of 2,550,000 shares. Based on an average trading volume of 609,900 shares, the short-interest ratio is currently 5.1 days. Approximately 5.0% of the company’s stock are sold short.

Insider Transactions at Tenaya Therapeutics

In other news, insider Timothy Hoey sold 6,569 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.34, for a total transaction of $35,078.46. Following the completion of the transaction, the insider now directly owns 236,146 shares in the company, valued at $1,261,019.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Timothy Hoey sold 6,569 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $5.34, for a total transaction of $35,078.46. Following the sale, the insider now owns 236,146 shares in the company, valued at $1,261,019.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Faraz Ali sold 6,358 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.86, for a total transaction of $37,257.88. Following the sale, the chief executive officer now directly owns 113,079 shares of the company’s stock, valued at approximately $662,642.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,908 shares of company stock valued at $122,867. Insiders own 33.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC purchased a new stake in shares of Tenaya Therapeutics in the 4th quarter worth $228,000. Vanguard Group Inc. grew its holdings in Tenaya Therapeutics by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 2,459,444 shares of the company’s stock valued at $7,969,000 after purchasing an additional 291,576 shares during the period. Price T Rowe Associates Inc. MD increased its position in Tenaya Therapeutics by 1.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,544,543 shares of the company’s stock worth $14,725,000 after buying an additional 69,377 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Tenaya Therapeutics by 29.5% in the fourth quarter. GSA Capital Partners LLP now owns 470,845 shares of the company’s stock worth $1,526,000 after buying an additional 107,352 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of Tenaya Therapeutics by 6.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 193,000 shares of the company’s stock valued at $625,000 after buying an additional 11,100 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

Tenaya Therapeutics Trading Down 4.9 %

Tenaya Therapeutics stock opened at $4.46 on Monday. Tenaya Therapeutics has a one year low of $1.66 and a one year high of $8.09. The stock has a fifty day moving average of $5.29 and a 200 day moving average of $3.54.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, sell-side analysts forecast that Tenaya Therapeutics will post -1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Tuesday, March 19th. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 21st. Finally, Canaccord Genuity Group reduced their price target on shares of Tenaya Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $15.40.

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.