Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Price Target at $6.25

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $6.25.

A number of equities research analysts have recently commented on TNYA shares. Chardan Capital reiterated a “buy” rating and set a $9.00 price target on shares of Tenaya Therapeutics in a report on Friday, May 9th. Canaccord Genuity Group reduced their price target on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Morgan Stanley reduced their price objective on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Tenaya Therapeutics in a research report on Friday, April 25th.

Institutional Trading of Tenaya Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. DAFNA Capital Management LLC acquired a new stake in shares of Tenaya Therapeutics in the first quarter valued at approximately $27,000. Woodline Partners LP purchased a new position in shares of Tenaya Therapeutics during the 4th quarter worth $28,000. Commerce Bank purchased a new position in shares of Tenaya Therapeutics during the 4th quarter worth $29,000. Mariner LLC acquired a new position in shares of Tenaya Therapeutics during the 4th quarter valued at about $30,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Tenaya Therapeutics in the fourth quarter valued at about $32,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Tenaya Therapeutics Price Performance

TNYA opened at $0.59 on Thursday. The company has a fifty day moving average price of $0.48 and a 200-day moving average price of $1.06. Tenaya Therapeutics has a one year low of $0.36 and a one year high of $4.06. The firm has a market capitalization of $96.22 million, a P/E ratio of -0.41 and a beta of 2.91.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). On average, analysts expect that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

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.