Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Tenaya Therapeutics has a “Moderate Buy” consensus rating from seven analysts: five buys, one strong buy and one sell. The average 12-month price target is $4.00, well above the stock’s recent price of $0.68.
• The company reported a quarterly loss of $0.20 per share, missing the analyst estimate of a $0.07 loss, while revenue of $1.11 million fell short of the $10 million consensus estimate.
• Institutional investors own 90.54% of Tenaya’s shares, with several funds recently initiating or increasing positions. The clinical-stage biotechnology company is developing AAV-based gene therapies for cardiovascular diseases.

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $4.00.

Several research firms recently weighed in on TNYA. Wall Street Zen downgraded shares of Tenaya Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 29th. Weiss Ratings upgraded shares of Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 28th.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNYA. Scientech Research LLC acquired a new stake in Tenaya Therapeutics in the third quarter worth approximately $27,000. Geode Capital Management LLC boosted its position in shares of Tenaya Therapeutics by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,193,355 shares of the company's stock valued at $849,000 after purchasing an additional 17,820 shares in the last quarter. Mirador Capital Partners LP boosted its position in shares of Tenaya Therapeutics by 2.0% during the 2nd quarter. Mirador Capital Partners LP now owns 905,097 shares of the company's stock valued at $669,000 after purchasing an additional 18,180 shares in the last quarter. Integrity Wealth Solutions LLC acquired a new position in shares of Tenaya Therapeutics in the 1st quarter worth approximately $27,000. Finally, Callan Family Office LLC acquired a new position in shares of Tenaya Therapeutics in the 2nd quarter worth approximately $37,000. Institutional investors own 90.54% of the company's stock.

Tenaya Therapeutics Trading Down 1.7%

TNYA stock opened at $0.68 on Friday. Tenaya Therapeutics has a twelve month low of $0.53 and a twelve month high of $2.35. The company has a market capitalization of $153.19 million, a P/E ratio of -1.29 and a beta of 2.77. The firm has a 50 day simple moving average of $0.76 and a 200-day simple moving average of $0.75.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last issued its quarterly 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 analyst estimates of $10.00 million. On average, research analysts predict that Tenaya Therapeutics will post -0.42 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source