Canaccord Genuity Group Reiterates “Buy” Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Canaccord Genuity Group reiterated their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research report sent to investors on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a $16.00 price objective on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a report on Friday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $15.25.

Tenaya Therapeutics Stock Down 5.9 %

Shares of NASDAQ TNYA opened at $1.92 on Friday. Tenaya Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $7.01. The business has a 50 day moving average price of $2.25 and a two-hundred day moving average price of $3.26. The firm has a market cap of $151.47 million, a PE ratio of -1.25 and a beta of 2.35.

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

Insiders Place Their Bets

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total transaction of $28,171.72. Following the transaction, the chief executive officer now directly owns 188,331 shares in the company, valued at $544,276.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 19,539 shares of company stock valued at $56,468 over the last ninety days. Corporate insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Tenaya Therapeutics in the 3rd quarter valued at approximately $49,000. Algert Global LLC bought a new stake in shares of Tenaya Therapeutics during the second quarter valued at approximately $74,000. The Manufacturers Life Insurance Company increased its position in shares of Tenaya Therapeutics by 43.2% during 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 during the period. Squarepoint Ops LLC raised its stake in shares of Tenaya Therapeutics by 86.0% in the second quarter. Squarepoint Ops LLC now owns 120,704 shares of the company’s stock valued at $374,000 after purchasing an additional 55,816 shares in the last quarter. Finally, Integral Health Asset Management LLC boosted its stake in Tenaya Therapeutics by 3.3% during the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after buying an additional 75,000 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.