Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Price Target at $4.00

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.00.

TNYA has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenaya Therapeutics in a research note on Thursday, July 2nd. Wall Street Zen cut Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th.

Tenaya Therapeutics Price Performance

Shares of TNYA opened at $0.82 on Friday. The firm has a market capitalization of $177.29 million, a PE ratio of -1.74 and a beta of 2.83. Tenaya Therapeutics has a 1-year low of $0.53 and a 1-year high of $2.35. The company’s fifty day moving average price is $0.79 and its 200-day moving average price is $0.76.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $0.23 million during the quarter, compared to analyst estimates of $7.50 million. As a group, research analysts anticipate that Tenaya Therapeutics will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP lifted its stake in Tenaya Therapeutics by 30,563.2% during the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after acquiring an additional 5,896,873 shares during the period. Empery Asset Management LP acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter worth $3,852,000. Vanguard Group Inc. increased its stake in shares of Tenaya Therapeutics by 6.5% in the third quarter. Vanguard Group Inc. now owns 5,064,857 shares of the company’s stock worth $8,205,000 after acquiring an additional 309,530 shares during the period. Millennium Management LLC increased its stake in shares of Tenaya Therapeutics by 2.5% in the fourth quarter. Millennium Management LLC now owns 4,615,746 shares of the company’s stock worth $3,284,000 after acquiring an additional 111,154 shares during the period. Finally, Anson Funds Management LP purchased a new position in shares of Tenaya Therapeutics during the fourth quarter worth $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.