Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Stock Has Average Target Price of $4.00

Key Points

• Analysts maintain a “Moderate Buy” consensus on Tenaya Therapeutics, with five buy ratings, one strong buy, and one sell; the average 12-month price target is $4.00.
• Shares opened at $0.59, near the company’s 52-week low of $0.53, while its market capitalization stood at approximately $133 million. Tenaya reported a quarterly loss of $0.20 per share, missing the $0.07 loss estimate, and revenue of $1.11 million versus $10 million expected.
• Institutional investors own 90.54% of the stock, with several hedge funds recently initiating or expanding positions. Tenaya is developing gene therapies and other genetic medicines for inherited and acquired cardiovascular diseases.

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

A number of equities research analysts have recently weighed in on TNYA shares. Wall Street Zen raised Tenaya Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Sunday, September 6th. Weiss Ratings raised Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th.

Tenaya Therapeutics Stock Up 0.6%

Shares of NASDAQ:TNYA opened at $0.59 on Wednesday. The stock has a market cap of $132.99 million, a PE ratio of -1.12 and a beta of 2.77. The company's fifty day moving average is $0.70 and its 200 day moving average is $0.75. Tenaya Therapeutics has a 52 week low of $0.53 and a 52 week high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.13). The business had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. Sell-side analysts anticipate that Tenaya Therapeutics will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TNYA. GSA Capital Partners LLP purchased a new stake in Tenaya Therapeutics during the 2nd quarter valued at $1,973,000. BlackRock Inc. purchased a new position in shares of Tenaya Therapeutics in the second quarter valued at about $2,963,000. Renaissance Technologies LLC increased its position in shares of Tenaya Therapeutics by 100.6% in the first quarter. Renaissance Technologies LLC now owns 3,713,761 shares of the company's stock valued at $2,571,000 after acquiring an additional 1,862,894 shares during the period. Empery Asset Management LP purchased a new stake in shares of Tenaya Therapeutics during the second quarter worth about $2,855,228. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Tenaya Therapeutics in the second quarter worth about $1,150,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc is a clinical-stage biotechnology company focused on developing genetic medicines for cardiovascular diseases. The company uses gene therapy, gene editing and small-molecule approaches to address the underlying causes of inherited and acquired heart conditions rather than treating symptoms alone.

Tenaya's product candidates include TN-201, an adeno-associated virus gene replacement therapy being developed for patients with MYBPC3-associated hypertrophic cardiomyopathy, and TN-401, a gene therapy candidate designed to treat PKP2-associated arrhythmogenic right ventricular cardiomyopathy.

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