What is Lifesci Capital’s Forecast for TNYA FY2024 Earnings?

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) – Stock analysts at Lifesci Capital upped their FY2024 earnings estimates for shares of Tenaya Therapeutics in a research report issued to clients and investors on Wednesday, November 6th. Lifesci Capital analyst C. Jubinville now forecasts that the company will earn ($1.39) per share for the year, up from their previous estimate of ($1.48). The consensus estimate for Tenaya Therapeutics’ current full-year earnings is ($1.40) per share. Lifesci Capital also issued estimates for Tenaya Therapeutics’ Q4 2024 earnings at ($0.35) EPS.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.07.

Other research analysts have also issued research reports about the company. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Chardan Capital dropped their price target on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $14.75.

Tenaya Therapeutics Stock Performance

NASDAQ TNYA opened at $2.76 on Monday. The stock’s fifty day moving average is $2.05 and its two-hundred day moving average is $3.02. The firm has a market capitalization of $217.74 million, a P/E ratio of -1.92 and a beta of 2.34. Tenaya Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $7.01.

Institutional Trading of Tenaya Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. boosted its stake in shares of Tenaya Therapeutics by 4.5% in the first quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock valued at $30,099,000 after purchasing an additional 247,703 shares during the period. Vanguard Group Inc. lifted its holdings in Tenaya Therapeutics by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after buying an additional 403,472 shares in the last quarter. Integral Health Asset Management LLC lifted its holdings in Tenaya Therapeutics by 3.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after buying an additional 75,000 shares in the last quarter. abrdn plc purchased a new position in Tenaya Therapeutics in the 3rd quarter valued at approximately $1,063,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Tenaya Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock worth $737,000 after acquiring an additional 26,103 shares in the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Faraz Ali sold 9,748 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total transaction of $28,171.72. Following the transaction, the chief executive officer now owns 188,331 shares of the company’s stock, valued at approximately $544,276.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 19,539 shares of company stock valued at $56,468. 32.76% of the stock is currently owned by corporate insiders.

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.