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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has earned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.00.

A number of analysts have recently weighed in on the stock. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Tenaya Therapeutics in a report on Thursday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a report on Wednesday, May 15th. Finally, Canaccord Genuity Group decreased their price target on Tenaya Therapeutics from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th.

Tenaya Therapeutics Trading Down 0.8 %

Shares of Tenaya Therapeutics stock opened at $3.64 on Friday. Tenaya Therapeutics has a 12 month low of $1.66 and a 12 month high of $7.46. The stock has a 50 day moving average of $4.38 and a 200 day moving average of $4.13. The firm has a market cap of $285.81 million, a PE ratio of -2.22 and a beta of 2.52.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Tuesday, May 14th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.03. As a group, equities research analysts forecast that Tenaya Therapeutics will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of large investors have recently bought and sold shares of the business. Redwood Wealth Management Group LLC lifted its position in shares of Tenaya Therapeutics by 38.0% during the fourth quarter. Redwood Wealth Management Group LLC now owns 16,350 shares of the company’s stock worth $53,000 after purchasing an additional 4,500 shares during the last quarter. Pale Fire Capital SE purchased a new position in Tenaya Therapeutics in the 3rd quarter worth about $72,000. SG Americas Securities LLC lifted its holdings in Tenaya Therapeutics by 20.0% during the 4th quarter. SG Americas Securities LLC now owns 25,337 shares of the company’s stock valued at $82,000 after buying an additional 4,224 shares in the last quarter. Bailard Inc. purchased a new stake in Tenaya Therapeutics in the 4th quarter valued at about $107,000. Finally, NEOS Investment Management LLC purchased a new stake in Tenaya Therapeutics in the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 90.54% 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.