Tenaya Therapeutics (NASDAQ:TNYA) Rating Reiterated by HC Wainwright

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report released on Friday, MarketBeat reports. They currently have a $18.00 price objective on the stock.

Tenaya Therapeutics Price Performance

Shares of TNYA stock opened at $2.04 on Friday. The business’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $3.29. Tenaya Therapeutics has a one year low of $1.61 and a one year high of $7.01. The stock has a market capitalization of $160.18 million, a PE ratio of -1.24 and a beta of 2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.06. As a group, research analysts expect that Tenaya Therapeutics will post -1.52 earnings per share for the current year.

Insider Buying and Selling at Tenaya Therapeutics

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $544,276.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 19,539 shares of company stock valued at $56,468. 32.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. lifted its stake in Tenaya Therapeutics by 4.5% in 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 period. Vanguard Group Inc. raised its position in shares of Tenaya Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock worth $14,973,000 after purchasing an additional 403,472 shares during the period. Integral Health Asset Management LLC raised its position in shares of Tenaya Therapeutics by 3.3% during the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after purchasing an additional 75,000 shares during the period. Bank of New York Mellon Corp raised its position in shares of Tenaya Therapeutics by 12.3% during the second 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 during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Tenaya Therapeutics by 90.8% during 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 period. 90.54% of the stock is owned by institutional investors and hedge funds.

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.