Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) PT at $15.25

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $15.25.

Several research analysts have recently commented on the stock. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th.

Tenaya Therapeutics Stock Up 1.0 %

NASDAQ:TNYA opened at $1.94 on Wednesday. Tenaya Therapeutics has a 52 week low of $1.61 and a 52 week high of $7.01. The stock’s fifty day moving average is $2.08 and its two-hundred day moving average is $3.11. The stock has a market capitalization of $153.05 million, a price-to-earnings ratio of -1.27 and a beta of 2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.06. On average, sell-side analysts expect that Tenaya Therapeutics will post -1.52 EPS for the current fiscal year.

Insider Activity

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of Tenaya Therapeutics stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total transaction of $28,171.72. Following the completion of the sale, the chief executive officer now directly owns 188,331 shares of the company’s stock, valued at $544,276.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 19,539 shares of company stock worth $56,468. 32.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenaya Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNYA. Vanguard Group Inc. grew its position in shares of Tenaya Therapeutics by 16.4% in the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after buying an additional 403,472 shares during the last quarter. American Century Companies Inc. boosted its stake in Tenaya Therapeutics by 27.7% in the second quarter. American Century Companies Inc. now owns 102,114 shares of the company’s stock valued at $317,000 after acquiring an additional 22,146 shares in the last quarter. Integral Health Asset Management LLC grew its holdings in shares of Tenaya Therapeutics by 3.3% during the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after purchasing an additional 75,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tenaya Therapeutics by 42.5% during the second quarter. Dimensional Fund Advisors LP now owns 102,026 shares of the company’s stock worth $316,000 after purchasing an additional 30,446 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Tenaya Therapeutics in the 2nd quarter valued at about $74,000. Institutional investors and hedge funds 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.