HC Wainwright Reiterates “Buy” Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $18.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Chardan Capital restated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.33.

Tenaya Therapeutics Stock Performance

Shares of TNYA stock traded down $0.02 on Monday, hitting $1.05. The company’s stock had a trading volume of 1,048,216 shares, compared to its average volume of 1,958,221. The company has a market capitalization of $82.78 million, a PE ratio of -0.73 and a beta of 2.84. Tenaya Therapeutics has a fifty-two week low of $0.99 and a fifty-two week high of $7.01. The stock’s 50 day moving average is $2.01 and its 200-day moving average is $2.28.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. On average, research analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Synovus Financial Corp bought a new position in Tenaya Therapeutics during the 3rd quarter worth approximately $28,000. The Manufacturers Life Insurance Company raised its holdings in Tenaya Therapeutics by 43.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after purchasing an additional 7,000 shares during the last quarter. Algert Global LLC bought a new position in Tenaya Therapeutics during the 2nd quarter worth approximately $74,000. SG Americas Securities LLC bought a new position in Tenaya Therapeutics during the 3rd quarter worth approximately $49,000. Finally, Spire Wealth Management bought a new position in Tenaya Therapeutics during the 4th quarter worth approximately $53,000. Institutional investors own 90.54% of the company’s stock.

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.