Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Rating of “Moderate Buy” by Analysts

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $4.00.

A number of equities research analysts have commented on TNYA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, January 21st. Chardan Capital restated a “buy” rating and issued a $8.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Wall Street Zen cut shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Leerink Partners restated an “outperform” rating and issued a $2.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Finally, Lifesci Capital upgraded shares of Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th.

Tenaya Therapeutics Trading Up 1.2%

NASDAQ:TNYA opened at $0.67 on Wednesday. The stock has a market capitalization of $144.87 million, a price-to-earnings ratio of -1.08 and a beta of 2.99. The firm has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $1.06. Tenaya Therapeutics has a 12 month low of $0.36 and a 12 month high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). Equities analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Tenaya Therapeutics

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total value of $2,758,469.64. Following the transaction, the insider directly owned 2,348,183 shares of the company’s stock, valued at approximately $1,596,764.44. This trade represents a 63.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 8,594,047 shares of company stock valued at $5,430,207 over the last 90 days. 48.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Scientech Research LLC bought a new position in shares of Tenaya Therapeutics in the third quarter valued at $27,000. Mirador Capital Partners LP lifted its holdings in shares of Tenaya Therapeutics by 38.2% in the third quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock valued at $38,000 after purchasing an additional 6,500 shares in the last quarter. Comerica Bank purchased a new position in shares of Tenaya Therapeutics during the first quarter valued at approximately $50,000. Cerity Partners LLC boosted its position in shares of Tenaya Therapeutics by 403.5% during the second quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after buying an additional 88,424 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Tenaya Therapeutics during the fourth quarter valued at approximately $72,000. 90.54% of the stock is owned by institutional investors.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.