Chardan Capital Has Lowered Expectations for Tenaya Therapeutics (NASDAQ:TNYA) Stock Price

Tenaya Therapeutics (NASDAQ:TNYA) had its price objective dropped by analysts at Chardan Capital from $9.00 to $8.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock.

TNYA has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Tenaya Therapeutics in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA opened at $0.85 on Friday. The stock has a market capitalization of $141.53 million, a PE ratio of -1.09 and a beta of 3.13. Tenaya Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $2.95. The company has a fifty day moving average of $1.50 and a two-hundred day moving average of $1.12.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Monday, November 10th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. Research analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Scientech Research LLC purchased a new stake in shares of Tenaya Therapeutics in the 3rd quarter valued at approximately $27,000. DAFNA Capital Management LLC acquired a new position in Tenaya Therapeutics in the first quarter valued at approximately $27,000. Mirador Capital Partners LP grew its position in Tenaya Therapeutics by 38.2% in the third quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock worth $38,000 after acquiring an additional 6,500 shares during the period. Callan Family Office LLC acquired a new stake in Tenaya Therapeutics during the first quarter worth $50,000. Finally, Comerica Bank purchased a new stake in Tenaya Therapeutics in the first quarter valued at $50,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.