Tenaya Therapeutics (NASDAQ:TNYA) Price Target Lowered to $9.00 at Chardan Capital

Tenaya Therapeutics (NASDAQ:TNYA) had its price objective decreased by Chardan Capital from $18.00 to $9.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

Separately, HC Wainwright dropped their price objective on Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tenaya Therapeutics presently has an average rating of “Buy” and an average price target of $8.75.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA opened at $0.60 on Wednesday. The company has a market cap of $47.56 million, a P/E ratio of -0.42 and a beta of 2.83. Tenaya Therapeutics has a one year low of $0.39 and a one year high of $5.55. The business’s 50-day simple moving average is $1.09 and its 200 day simple moving average is $1.84.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.04. Analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Insider Transactions at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 49,313,559 shares in the company, valued at $34,519,491.30. The trade was a 262.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 19,621 shares of company stock worth $10,595. 32.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its position in shares of Tenaya Therapeutics by 204.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after acquiring an additional 226,466 shares in the last quarter. SG Americas Securities LLC boosted its position in Tenaya Therapeutics by 61.9% during the 4th quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock valued at $59,000 after purchasing an additional 15,777 shares during the period. State Street Corp boosted its position in Tenaya Therapeutics by 0.9% during the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after purchasing an additional 9,506 shares during the period. Spire Wealth Management acquired a new position in Tenaya Therapeutics during the 4th quarter valued at approximately $53,000. Finally, Geode Capital Management LLC boosted its position in Tenaya Therapeutics by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock valued at $2,502,000 after purchasing an additional 66,968 shares during the period. Institutional investors and hedge funds 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.