Wall Street Zen Upgrades Tenaya Therapeutics (NASDAQ:TNYA) to Sell

Key Points

• Wall Street Zen upgraded Tenaya Therapeutics from “strong sell” to “sell,” while Weiss Ratings also maintained a sell-level assessment. Despite this, broader analyst coverage gives the stock a “Moderate Buy” consensus and a $4.00 price target.
• Tenaya’s shares opened at $0.68, near the bottom of their $0.53–$2.35 52-week range, with a market capitalization of approximately $153 million.
• The company reported a quarterly loss of $0.20 per share, missing the $0.07 consensus estimate, while revenue of $1.11 million fell well short of the $10 million forecast. Institutional investors own 90.54% of the stock.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.00.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA opened at $0.68 on Friday. Tenaya Therapeutics has a 52 week low of $0.53 and a 52 week high of $2.35. The firm has a 50-day moving average price of $0.76 and a two-hundred day moving average price of $0.75. The firm has a market cap of $153.19 million, a price-to-earnings ratio of -1.29 and a beta of 2.77.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.13). The firm had revenue of $1.11 million during the quarter, compared to analysts' expectations of $10.00 million. As a group, sell-side analysts forecast that Tenaya Therapeutics will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integrity Wealth Solutions LLC purchased a new stake in shares of Tenaya Therapeutics in the first quarter worth about $27,000. Scientech Research LLC purchased a new position in Tenaya Therapeutics during the third quarter valued at approximately $27,000. Callan Family Office LLC purchased a new position in Tenaya Therapeutics during the second quarter valued at approximately $37,000. Comerica Bank bought a new stake in Tenaya Therapeutics during the 1st quarter worth approximately $50,000. Finally, Cerity Partners LLC increased its holdings in Tenaya Therapeutics by 403.5% during the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company's stock worth $67,000 after acquiring an additional 88,424 shares during the period. 90.54% of the stock is currently owned by institutional investors.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.

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