Tenaya Therapeutics’ (TNYA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research report report published on Friday morning, Marketbeat.com reports. They currently have a $18.00 target price on the stock.

Tenaya Therapeutics Stock Down 5.9 %

Shares of Tenaya Therapeutics stock opened at $1.92 on Friday. The stock has a market capitalization of $151.47 million, a P/E ratio of -1.25 and a beta of 2.35. The stock has a 50 day moving average price of $2.25 and a two-hundred day moving average price of $3.26. Tenaya Therapeutics has a 12-month low of $1.61 and a 12-month high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.06. Sell-side analysts anticipate that Tenaya Therapeutics will post -1.52 earnings per share for the current year.

Insider Activity

In related news, CEO Faraz Ali sold 9,748 shares of the company’s stock in a transaction on Friday, August 16th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 19,539 shares of company stock valued at $56,468. 32.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TNYA. SG Americas Securities LLC acquired a new position in shares of Tenaya Therapeutics in the third quarter valued at $49,000. 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 purchasing an additional 7,000 shares in the last quarter. Algert Global LLC acquired a new position in shares of Tenaya Therapeutics in the second quarter valued at $74,000. Panagora Asset Management Inc. acquired a new position in shares of Tenaya Therapeutics in the second quarter valued at $164,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Tenaya Therapeutics in the fourth quarter valued at $228,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.