Leerink Partnrs Has Strong Estimate for TNYA FY2024 Earnings

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) – Leerink Partnrs increased their FY2024 earnings per share estimates for Tenaya Therapeutics in a report released on Wednesday, November 6th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings of ($1.33) per share for the year, up from their prior forecast of ($1.54). The consensus estimate for Tenaya Therapeutics’ current full-year earnings is ($1.40) per share. Leerink Partnrs also issued estimates for Tenaya Therapeutics’ Q4 2024 earnings at ($0.29) EPS and FY2025 earnings at ($1.33) EPS.

A number of other brokerages also recently commented on TNYA. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Chardan Capital dropped their price objective on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 target price on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Tenaya Therapeutics currently has a consensus rating of “Buy” and an average target price of $14.75.

Tenaya Therapeutics Stock Performance

Shares of TNYA opened at $2.21 on Monday. Tenaya Therapeutics has a 52 week low of $1.61 and a 52 week high of $7.01. The firm has a market capitalization of $174.34 million, a P/E ratio of -1.67 and a beta of 2.34. The company has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $3.01.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.07.

Insider Buying and Selling

In other news, CEO Faraz Ali sold 9,748 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the transaction, the chief executive officer now directly owns 188,331 shares in the company, valued at $544,276.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 19,539 shares of company stock valued at $56,468 over the last ninety days. Insiders own 32.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Tenaya Therapeutics by 43.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after purchasing an additional 7,000 shares during the period. Rhumbline Advisers increased its position in shares of Tenaya Therapeutics by 10.5% in the 2nd quarter. Rhumbline Advisers now owns 78,160 shares of the company’s stock valued at $242,000 after buying an additional 7,441 shares in the last quarter. American Century Companies Inc. raised its stake in Tenaya Therapeutics by 27.7% during the 2nd quarter. American Century Companies Inc. now owns 102,114 shares of the company’s stock worth $317,000 after buying an additional 22,146 shares during the period. Algert Global LLC bought a new position in Tenaya Therapeutics during the second quarter worth about $74,000. Finally, SG Americas Securities LLC acquired a new position in Tenaya Therapeutics in the third quarter valued at about $49,000. Institutional investors own 90.54% of the company’s stock.

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.