Wellington Management Group LLP Boosts Stock Position in Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

Wellington Management Group LLP raised its stake in shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) by 35.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 294,133 shares of the company’s stock after buying an additional 77,235 shares during the quarter. Wellington Management Group LLP owned about 0.37% of Tenaya Therapeutics worth $568,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TNYA. Jacobs Levy Equity Management Inc. increased its holdings in shares of Tenaya Therapeutics by 204.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock valued at $651,000 after acquiring an additional 226,466 shares in the last quarter. abrdn plc purchased a new stake in Tenaya Therapeutics during the 3rd quarter valued at about $1,063,000. FMR LLC increased its stake in Tenaya Therapeutics by 1.9% during the 3rd quarter. FMR LLC now owns 1,345,938 shares of the company’s stock valued at $2,598,000 after purchasing an additional 25,503 shares in the last quarter. American Century Companies Inc. raised its holdings in Tenaya Therapeutics by 27.7% in the second 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 last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Tenaya Therapeutics by 42.5% in the second quarter. Dimensional Fund Advisors LP now owns 102,026 shares of the company’s stock worth $316,000 after buying an additional 30,446 shares in the last quarter. 90.54% of the stock is owned by institutional investors.

Tenaya Therapeutics Price Performance

TNYA stock opened at $1.67 on Friday. Tenaya Therapeutics, Inc. has a 1 year low of $0.99 and a 1 year high of $7.01. The company has a market cap of $132.30 million, a P/E ratio of -1.16 and a beta of 2.72. The stock’s fifty day moving average price is $2.43 and its 200-day moving average price is $2.69.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.07. As a group, analysts expect that Tenaya Therapeutics, Inc. will post -1.35 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research report on Wednesday. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th. Chardan Capital reaffirmed a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.33.

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.