Chardan Capital Reiterates Buy Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a report issued on Thursday,Benzinga reports. They presently have a $8.00 price objective on the stock.

Other research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Morgan Stanley set a $2.00 price target on Tenaya Therapeutics in a research note on Thursday, January 8th. Lifesci Capital upgraded shares of Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th. Canaccord Genuity Group decreased their price objective on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, HC Wainwright lowered their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tenaya Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Tenaya Therapeutics Trading Down 4.5%

NASDAQ TNYA opened at $0.85 on Thursday. The firm’s fifty day simple moving average is $0.73 and its two-hundred day simple moving average is $1.12. The firm has a market capitalization of $139.57 million, a P/E ratio of -1.37 and a beta of 3.22. Tenaya Therapeutics has a 12-month low of $0.36 and a 12-month high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). As a group, sell-side analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 3,511,826 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $0.56, for a total transaction of $1,966,622.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 8,594,047 shares of company stock worth $5,430,207. 48.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Woodline Partners LP boosted its position in Tenaya Therapeutics by 30,563.2% in the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after buying an additional 5,896,873 shares during the last quarter. Empery Asset Management LP acquired a new position in Tenaya Therapeutics in the 4th quarter worth approximately $3,852,000. Vanguard Group Inc. raised its position in Tenaya Therapeutics by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,064,857 shares of the company’s stock worth $8,205,000 after buying an additional 309,530 shares during the last quarter. Millennium Management LLC lifted its stake in Tenaya Therapeutics by 2.5% during the 4th quarter. Millennium Management LLC now owns 4,615,746 shares of the company’s stock valued at $3,284,000 after acquiring an additional 111,154 shares during the period. Finally, Anson Funds Management LP acquired a new stake in Tenaya Therapeutics during the 4th quarter valued at approximately $2,955,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Company Profile

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.