Tenaya Therapeutics (NASDAQ:TNYA) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock.

TNYA has been the topic of several other research reports. Canaccord Genuity Group dropped their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Chardan Capital dropped their price target on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Morgan Stanley decreased their price objective on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.25.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA opened at $0.57 on Monday. The firm’s 50 day simple moving average is $0.89 and its 200 day simple moving average is $1.67. Tenaya Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $5.25. The company has a market capitalization of $49.93 million, a price-to-earnings ratio of -0.40 and a beta of 2.83.

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

Insiders Place Their Bets

In other news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of Tenaya Therapeutics stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $0.70 per share, with a total value of $24,999,998.80. Following the transaction, the insider now directly owns 49,313,559 shares in the company, valued at $34,519,491.30. The trade was a 262.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 19,621 shares of company stock worth $10,595. Corporate insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors have recently made changes to their positions in TNYA. Synovus Financial Corp bought a new position in Tenaya Therapeutics in the third quarter valued at $28,000. Woodline Partners LP acquired a new position in shares of Tenaya Therapeutics during the 4th quarter worth about $28,000. Commerce Bank acquired a new position in shares of Tenaya Therapeutics during the 4th quarter worth about $29,000. Mariner LLC bought a new position in shares of Tenaya Therapeutics in the 4th quarter valued at about $30,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter valued at about $32,000. Institutional investors 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.