Tenaya Therapeutics (NASDAQ:TNYA) Earns Buy Rating from Chardan Capital

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a report released on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the stock.

Several other analysts have also recently issued reports on the company. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Monday, November 25th. Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tenaya Therapeutics presently has an average rating of “Buy” and a consensus price target of $17.33.

Tenaya Therapeutics Trading Up 14.6 %

Shares of NASDAQ:TNYA opened at $1.41 on Wednesday. Tenaya Therapeutics has a 12-month low of $0.99 and a 12-month high of $7.01. The firm has a market cap of $111.70 million, a PE ratio of -0.98 and a beta of 2.72. The company has a fifty day simple moving average of $2.43 and a 200 day simple moving average of $2.71.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNYA. Synovus Financial Corp bought a new stake in Tenaya Therapeutics in the third quarter valued at $28,000. The Manufacturers Life Insurance Company lifted its position in Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after purchasing an additional 7,000 shares during the last quarter. Algert Global LLC acquired a new position in Tenaya Therapeutics during the 2nd quarter valued at about $74,000. SG Americas Securities LLC bought a new position in Tenaya Therapeutics in the 3rd quarter worth about $49,000. Finally, XTX Topco Ltd increased its stake in shares of Tenaya Therapeutics by 51.2% in the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock valued at $95,000 after purchasing an additional 16,687 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Tenaya Therapeutics Company Profile

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.