HC Wainwright Reaffirms Buy Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $18.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 447.11% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. 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, Chardan Capital dropped their target price on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $14.75.

Tenaya Therapeutics Stock Performance

Shares of TNYA stock opened at $3.29 on Monday. Tenaya Therapeutics has a 52-week low of $1.61 and a 52-week high of $7.01. The stock has a market cap of $260.63 million, a price-to-earnings ratio of -2.28 and a beta of 2.34. The firm has a fifty day moving average of $2.04 and a 200-day moving average of $2.85.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.07. On average, sell-side analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Synovus Financial Corp acquired a new stake in Tenaya Therapeutics in the third quarter worth about $28,000. SG Americas Securities LLC bought a new stake in shares of Tenaya Therapeutics during the third quarter worth approximately $49,000. The Manufacturers Life Insurance Company lifted 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 valued at $72,000 after buying an additional 7,000 shares during the period. Algert Global LLC bought a new position in Tenaya Therapeutics in the second quarter valued at approximately $74,000. Finally, XTX Topco Ltd grew its holdings in Tenaya Therapeutics by 51.2% during the 3rd quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after acquiring an additional 16,687 shares during the period. 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.