Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Consensus Recommendation of “Buy” by Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have received an average recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.25.

TNYA has been the subject of several research analyst reports. William Blair started coverage on Tenaya Therapeutics in a research note on Monday, June 10th. They set an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Monday, July 8th. Finally, Canaccord Genuity Group cut their target price on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th.

Insider Activity

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $2.89, for a total value of $28,171.72. Following the completion of the transaction, the chief executive officer now directly owns 188,331 shares in the company, valued at approximately $544,276.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 19,539 shares of company stock valued at $56,468 over the last quarter. 32.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of institutional investors have recently made changes to their positions in TNYA. SG Americas Securities LLC raised its position in shares of Tenaya Therapeutics by 20.0% during the fourth quarter. SG Americas Securities LLC now owns 25,337 shares of the company’s stock worth $82,000 after acquiring an additional 4,224 shares during the last quarter. Cornercap Investment Counsel Inc. raised its holdings in Tenaya Therapeutics by 136.2% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 81,255 shares of the company’s stock worth $263,000 after purchasing an additional 46,847 shares during the last quarter. Bailard Inc. acquired a new position in shares of Tenaya Therapeutics in the 4th quarter worth approximately $107,000. NEOS Investment Management LLC bought a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at $201,000. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Tenaya Therapeutics during the fourth quarter worth $228,000. Institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Stock Performance

Shares of TNYA opened at $2.89 on Friday. The firm has a 50 day simple moving average of $3.20 and a two-hundred day simple moving average of $4.26. Tenaya Therapeutics has a one year low of $1.66 and a one year high of $7.01.

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

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.