Tenaya Therapeutics (NASDAQ:TNYA) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Tenaya Therapeutics (NASDAQ:TNYA) issued its earnings results on Monday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04, Zacks reports.

Tenaya Therapeutics Price Performance

Shares of NASDAQ TNYA traded up $0.05 during midday trading on Monday, reaching $0.51. 17,056,070 shares of the stock traded hands, compared to its average volume of 1,929,308. The company’s 50 day moving average is $1.14 and its 200 day moving average is $1.88. Tenaya Therapeutics has a one year low of $0.39 and a one year high of $6.47. The stock has a market capitalization of $40.06 million, a PE ratio of -0.35 and a beta of 2.83.

Analysts Set New Price Targets

TNYA has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a report on Monday, February 3rd. Chardan Capital reiterated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.33.

Insider Buying and Selling

In related news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the transaction, the insider now owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. The trade was a 262.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 32.76% of the stock is currently owned by company insiders.

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.