Tenaya Therapeutics (NASDAQ:TNYA) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research report released on Friday morning, MarketBeat.com reports. HC Wainwright currently has a $18.00 target price on the stock.

Tenaya Therapeutics Stock Performance

Shares of Tenaya Therapeutics stock opened at $2.04 on Friday. The stock’s 50-day moving average is $2.27 and its 200 day moving average is $3.27. Tenaya Therapeutics has a one year low of $1.61 and a one year high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. Analysts expect that Tenaya Therapeutics will post -1.52 EPS for the current fiscal year.

Insider Activity

In related news, CEO Faraz Ali sold 9,748 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the completion of the sale, the chief executive officer now directly owns 188,331 shares of the company’s stock, valued at $544,276.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 19,539 shares of company stock worth $56,468. Company insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. grew its holdings in shares of Tenaya Therapeutics by 4.5% during the first quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock valued at $30,099,000 after buying an additional 247,703 shares during the last quarter. Vanguard Group Inc. lifted its position in Tenaya Therapeutics by 16.4% in the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after acquiring an additional 403,472 shares in the last quarter. Integral Health Asset Management LLC boosted its stake in Tenaya Therapeutics by 3.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock valued at $7,208,000 after purchasing an additional 75,000 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Tenaya Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock worth $737,000 after purchasing an additional 26,103 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Tenaya Therapeutics by 90.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock worth $882,000 after purchasing an additional 80,212 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Company Profile

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.