Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Consensus Rating of “Buy” from Brokerages

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned an average rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.75.

A number of equities analysts have issued reports on the stock. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Chardan Capital dropped their target price on Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $16.00 price target on shares of Tenaya Therapeutics in a research report on Friday, October 18th.

Tenaya Therapeutics Stock Up 10.2 %

Shares of Tenaya Therapeutics stock opened at $2.38 on Friday. The business has a 50-day moving average price of $2.02 and a 200 day moving average price of $2.87. Tenaya Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $7.01. The firm has a market cap of $188.54 million, a P/E ratio of -1.65 and a beta of 2.34.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.07. As a group, equities research analysts anticipate that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Tenaya Therapeutics by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after acquiring an additional 66,968 shares in the last quarter. XTX Topco Ltd lifted its stake in Tenaya Therapeutics by 51.2% in the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock valued at $95,000 after acquiring an additional 16,687 shares during the last quarter. Wellington Management Group LLP grew its position in Tenaya Therapeutics by 35.6% in the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock worth $568,000 after acquiring an additional 77,235 shares in the last quarter. State Street Corp raised its holdings in Tenaya Therapeutics by 0.9% during the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after buying an additional 9,506 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Tenaya Therapeutics by 204.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after buying an additional 226,466 shares during the last quarter. 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.