Tenaya Therapeutics’ (TNYA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research note published on Friday morning,Benzinga reports. HC Wainwright currently has a $5.00 price objective on the stock.

TNYA has been the subject of several other reports. Canaccord Genuity Group cut their price target 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. Chardan Capital cut their target price on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Morgan Stanley reduced their price target on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $6.25.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA opened at $0.49 on Friday. Tenaya Therapeutics has a 1 year low of $0.39 and a 1 year high of $4.96. The stock has a market cap of $43.02 million, a P/E ratio of -0.34 and a beta of 2.98. The stock has a 50-day simple moving average of $0.63 and a 200-day simple moving average of $1.46.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04. On average, equities research analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current year.

Insider Buying and Selling at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the transaction, the insider now owns 49,313,559 shares of the company’s stock, valued at $34,519,491.30. This represents a 262.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 19,621 shares of company stock worth $10,595. Insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Tenaya Therapeutics by 20,670.3% in the fourth quarter. JPMorgan Chase & Co. now owns 5,155,596 shares of the company’s stock valued at $7,373,000 after buying an additional 5,130,774 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tenaya Therapeutics by 5.4% in the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock valued at $2,502,000 after acquiring an additional 66,968 shares during the period. State Street Corp grew its stake in Tenaya Therapeutics by 0.9% during the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after buying an additional 9,506 shares during the last quarter. abrdn plc grew its position in Tenaya Therapeutics by 9.1% in the 4th quarter. abrdn plc now owns 600,700 shares of the company’s stock worth $859,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in Tenaya Therapeutics by 6.2% in the 4th quarter. Northern Trust Corp now owns 472,479 shares of the company’s stock valued at $676,000 after acquiring an additional 27,632 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

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.