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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $15.25.

TNYA has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $18.00 price target 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 target on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler reissued an “overweight” rating 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 Performance

Tenaya Therapeutics stock opened at $2.13 on Wednesday. The stock’s 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $3.08. The stock has a market cap of $168.04 million, a price-to-earnings ratio of -1.39 and a beta of 2.34. Tenaya Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $7.01.

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

Insider Buying and Selling

In related news, CEO Faraz Ali sold 9,748 shares of the business’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 $544,276.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 19,539 shares of company stock worth $56,468 in the last three months. Insiders own 32.76% of the company’s stock.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. raised its stake in Tenaya Therapeutics by 4.5% during the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company’s stock valued at $30,099,000 after buying an additional 247,703 shares during the last quarter. Vanguard Group Inc. raised its stake in Tenaya Therapeutics by 16.4% during 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. Integral Health Asset Management LLC raised its stake in Tenaya Therapeutics by 3.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock valued at $7,208,000 after buying an additional 75,000 shares during the last quarter. abrdn plc purchased a new stake in Tenaya Therapeutics during the 3rd quarter valued at $1,063,000. Finally, Bank of New York Mellon Corp raised its stake in Tenaya Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock valued at $737,000 after buying an additional 26,103 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

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.