Tenaya Therapeutics (NASDAQ:TNYA) Rating Lowered to “Sell” at Wall Street Zen

Tenaya Therapeutics (NASDAQ:TNYA) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other equities research analysts have also issued research reports about the company. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a research report on Thursday, March 5th. William Blair reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday. Leerink Partners restated an “outperform” rating and set a $2.00 price target on shares of Tenaya Therapeutics in a report on Thursday. HC Wainwright lowered their price objective on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Finally, Chardan Capital reiterated a “buy” rating and issued a $8.00 price objective on shares of Tenaya Therapeutics in a report on Thursday. One investment 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 company. According to MarketBeat, Tenaya Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Tenaya Therapeutics Price Performance

Shares of Tenaya Therapeutics stock opened at $0.85 on Friday. The company’s 50 day moving average price is $0.73 and its two-hundred day moving average price 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 fifty-two week low of $0.36 and a fifty-two week high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). On average, analysts expect that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $0.68, for a total value of $2,758,469.64. Following the sale, the insider owned 2,348,183 shares in the company, valued at approximately $1,596,764.44. The trade was a 63.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 8,594,047 shares of company stock worth $5,430,207. 48.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Scientech Research LLC acquired a new position in shares of Tenaya Therapeutics in the third quarter worth approximately $27,000. Mirador Capital Partners LP increased its position in Tenaya Therapeutics by 38.2% during the 3rd 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 during the period. Jefferies Financial Group Inc. bought a new position in Tenaya Therapeutics during the 3rd quarter worth approximately $99,000. Persistent Asset Partners Ltd bought a new position in Tenaya Therapeutics during the 3rd quarter worth approximately $117,000. Finally, Savant Capital LLC acquired a new position in shares of Tenaya Therapeutics in the 2nd quarter worth approximately $52,000. 90.54% of the stock is owned by institutional investors and hedge funds.

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.