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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $6.25.

A number of research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Tenaya Therapeutics in a report on Friday, April 25th. Canaccord Genuity Group decreased their price target on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Chardan Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, May 9th. Finally, Morgan Stanley decreased their target price on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th.

Tenaya Therapeutics Stock Down 8.5%

NASDAQ:TNYA opened at $0.63 on Thursday. Tenaya Therapeutics has a 12-month low of $0.36 and a 12-month high of $4.06. The stock’s fifty day simple moving average is $0.48 and its 200-day simple moving average is $1.11. The firm has a market capitalization of $102.81 million, a P/E ratio of -0.44 and a beta of 2.91.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). As a group, equities research analysts expect that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNYA. DAFNA Capital Management LLC bought a new stake in Tenaya Therapeutics in the 1st quarter valued at $27,000. Woodline Partners LP bought a new position in Tenaya Therapeutics during the 4th quarter worth about $28,000. Commerce Bank acquired a new stake in shares of Tenaya Therapeutics in the 4th quarter valued at about $29,000. Mariner LLC bought a new stake in shares of Tenaya Therapeutics in the fourth quarter valued at about $30,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Tenaya Therapeutics during the fourth quarter worth about $32,000. Institutional investors and hedge funds 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.