Tenaya Therapeutics, Inc. Forecasted to Post Q2 2024 Earnings of ($0.41) Per Share (NASDAQ:TNYA)

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) – Analysts at HC Wainwright boosted their Q2 2024 earnings estimates for Tenaya Therapeutics in a research note issued to investors on Wednesday, May 15th. HC Wainwright analyst J. Pantginis now forecasts that the company will post earnings of ($0.41) per share for the quarter, up from their previous estimate of ($0.43). HC Wainwright currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for Tenaya Therapeutics’ current full-year earnings is ($1.70) per share. HC Wainwright also issued estimates for Tenaya Therapeutics’ Q3 2024 earnings at ($0.42) EPS, Q4 2024 earnings at ($0.37) EPS, FY2024 earnings at ($1.60) EPS, FY2025 earnings at ($1.62) EPS, FY2026 earnings at ($1.65) EPS, FY2027 earnings at ($1.43) EPS and FY2028 earnings at ($1.05) EPS.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.05.

A number of other research analysts also recently issued reports on the company. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 21st. Canaccord Genuity Group decreased their target price on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.00.

Tenaya Therapeutics Stock Performance

NASDAQ TNYA opened at $4.66 on Friday. The company’s 50-day simple moving average is $4.65 and its two-hundred day simple moving average is $3.90. Tenaya Therapeutics has a one year low of $1.66 and a one year high of $8.09. The company has a market capitalization of $365.90 million, a price-to-earnings ratio of -2.84 and a beta of 2.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC lifted its holdings in Tenaya Therapeutics by 38.0% in the fourth quarter. Redwood Wealth Management Group LLC now owns 16,350 shares of the company’s stock valued at $53,000 after acquiring an additional 4,500 shares during the period. SG Americas Securities LLC acquired a new position in Tenaya Therapeutics in the 3rd quarter worth about $54,000. Pale Fire Capital SE purchased a new position in Tenaya Therapeutics during the third quarter worth approximately $72,000. Bailard Inc. acquired a new stake in Tenaya Therapeutics in the fourth quarter valued at approximately $107,000. Finally, NEOS Investment Management LLC purchased a new stake in shares of Tenaya Therapeutics in the fourth quarter valued at approximately $201,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Timothy Hoey sold 6,569 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $5.34, for a total value of $35,078.46. Following the transaction, the insider now directly owns 236,146 shares of the company’s stock, valued at $1,261,019.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 32.76% 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.