Tenaya Therapeutics (NASDAQ:TNYA) Earns “Buy” Rating from HC Wainwright

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $18.00 price objective on the stock.

A number of other research firms have also commented on TNYA. Piper Sandler reaffirmed an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group restated a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th. Chardan Capital reissued a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Finally, Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $17.33.

Tenaya Therapeutics Price Performance

Tenaya Therapeutics stock opened at $1.03 on Monday. The business has a 50 day moving average of $1.93 and a 200-day moving average of $2.24. The company has a market capitalization of $81.60 million, a P/E ratio of -0.72 and a beta of 2.84. Tenaya Therapeutics has a 1 year low of $0.99 and a 1 year high of $7.01.

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. Equities analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TNYA. Jacobs Levy Equity Management Inc. lifted its stake in 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 purchasing an additional 226,466 shares in the last quarter. abrdn plc purchased a new position in Tenaya Therapeutics in the 3rd quarter worth approximately $1,063,000. State Street Corp grew its holdings in shares of Tenaya Therapeutics by 0.9% in the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after purchasing an additional 9,506 shares during the last quarter. XTX Topco Ltd raised 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 valued at $95,000 after buying an additional 16,687 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Tenaya Therapeutics by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after purchasing an additional 66,968 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

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.