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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.25.

Several research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Canaccord Genuity Group reduced their price target on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Tenaya Therapeutics in a research report on Monday. Finally, Chardan Capital reduced their target price on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th.

Tenaya Therapeutics Trading Up 4.0 %

Shares of NASDAQ:TNYA opened at $0.57 on Friday. The company has a market capitalization of $49.56 million, a PE ratio of -0.39 and a beta of 2.83. Tenaya Therapeutics has a 12-month low of $0.39 and a 12-month high of $5.10. The business’s fifty day simple moving average is $0.86 and its 200-day simple moving average is $1.65.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Monday, March 17th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04. Research analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current year.

Insider Transactions at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the completion of the acquisition, the insider now owns 49,313,559 shares of the company’s stock, valued at approximately $34,519,491.30. This trade represents a 262.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 19,621 shares of company stock worth $10,595. Company insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TNYA. JPMorgan Chase & Co. lifted its stake in Tenaya Therapeutics by 20,670.3% during the 4th quarter. JPMorgan Chase & Co. now owns 5,155,596 shares of the company’s stock valued at $7,373,000 after acquiring an additional 5,130,774 shares during the period. Trustees of Columbia University in the City of New York purchased a new position in shares of Tenaya Therapeutics during the fourth quarter worth $417,000. Jacobs Levy Equity Management Inc. lifted its position in Tenaya Therapeutics by 204.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock valued at $651,000 after purchasing an additional 226,466 shares during the period. Virtu Financial LLC purchased a new stake in Tenaya Therapeutics in the fourth quarter valued at $150,000. Finally, Deutsche Bank AG grew its position in Tenaya Therapeutics by 304.1% during the 4th quarter. Deutsche Bank AG now owns 129,319 shares of the company’s stock worth $185,000 after purchasing an additional 97,318 shares during the period. Institutional investors and hedge funds 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.