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

Tenaya Therapeutics (NASDAQ:TNYA) had its price target decreased by equities research analysts at Chardan Capital from $18.00 to $9.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, HC Wainwright lowered their target price on Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.25.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA opened at $0.67 on Wednesday. The stock has a market capitalization of $53.09 million, a price-to-earnings ratio of -0.47 and a beta of 2.83. Tenaya Therapeutics has a 1 year low of $0.39 and a 1 year high of $5.39. The stock has a fifty day moving average price of $1.08 and a two-hundred day moving average price of $1.84.

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

Insider Activity at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $0.70 per share, with a total value of $24,999,998.80. Following the completion of the purchase, the insider now directly owns 49,313,559 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 19,621 shares of company stock valued at $10,595 over the last quarter. Insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

A number of large investors have recently made changes to their positions in TNYA. FMR LLC boosted its stake in shares of Tenaya Therapeutics by 1.9% during the third quarter. FMR LLC now owns 1,345,938 shares of the company’s stock valued at $2,598,000 after acquiring an additional 25,503 shares during the last quarter. Walleye Capital LLC purchased a new position in Tenaya Therapeutics during the third quarter worth about $134,000. Jacobs Levy Equity Management Inc. lifted its position in Tenaya Therapeutics by 204.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after buying an additional 226,466 shares during the period. State Street Corp lifted its position in Tenaya Therapeutics by 0.9% during the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after buying an additional 9,506 shares during the period. Finally, Wellington Management Group LLP lifted its position in Tenaya Therapeutics by 35.6% during the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock worth $568,000 after buying an additional 77,235 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.