Analysts Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Price Target at $14.75

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.75.

Several research analysts recently issued reports on the company. Chardan Capital cut their target price on Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research report on Monday. Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th.

Tenaya Therapeutics Stock Up 11.1 %

Shares of NASDAQ:TNYA opened at $3.29 on Friday. The stock has a market cap of $260.63 million, a price-to-earnings ratio of -2.28 and a beta of 2.34. Tenaya Therapeutics has a 12-month low of $1.61 and a 12-month high of $7.01. The business’s 50 day moving average is $2.04 and its 200 day moving average is $2.85.

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, beating the consensus estimate of ($0.37) by $0.07. As a group, equities research analysts expect that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Trading of Tenaya Therapeutics

Hedge funds have recently made changes to their positions in the company. Synovus Financial Corp bought a new stake in shares of Tenaya Therapeutics in the third quarter valued at $28,000. The Manufacturers Life Insurance Company raised its stake in shares of Tenaya Therapeutics by 43.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after buying an additional 7,000 shares during the period. Algert Global LLC bought a new stake in shares of Tenaya Therapeutics in the second quarter valued at $74,000. SG Americas Securities LLC bought a new stake in shares of Tenaya Therapeutics in the third quarter valued at $49,000. Finally, XTX Topco Ltd raised 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 buying an additional 16,687 shares during the period. 90.54% of the stock is currently owned by institutional investors.

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.