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

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.
• Institutional investors own 90.54% of TNYA shares, with several firms recently initiating positions, including Stonepine Capital Management’s reported $107.4 million stake.
• TNYA opened at $0.39, near its 52-week low of $0.36, after the company reported a quarterly loss of $0.20 per share and revenue of $1.11 million—both below analyst expectations.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.00.

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

Institutional Trading of Tenaya Therapeutics

Several institutional investors have recently made changes to their positions in TNYA. Spark Investment Management LLC purchased a new position in Tenaya Therapeutics in the second quarter worth approximately $26,000. Integrity Wealth Solutions LLC acquired a new stake in Tenaya Therapeutics during the first quarter worth $27,000. Callan Family Office LLC purchased a new stake in Tenaya Therapeutics in the second quarter valued at $37,000. Castleview Partners LLC purchased a new stake in Tenaya Therapeutics in the first quarter valued at $106,000. Finally, Stonepine Capital Management LLC purchased a new stake in Tenaya Therapeutics in the second quarter valued at $107,429,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

Tenaya Therapeutics Stock Up 0.3%

NASDAQ TNYA opened at $0.39 on Friday. Tenaya Therapeutics has a 52 week low of $0.36 and a 52 week high of $1.72. The business's fifty day simple moving average is $0.60 and its 200-day simple moving average is $0.71. The firm has a market cap of $87.23 million, a PE ratio of -0.73 and a beta of 2.87.

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

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for genetic and other serious diseases of the heart. The company combines gene therapy, gene editing, cell therapy and small-molecule drug discovery technologies to target the underlying causes of cardiovascular disease rather than treating symptoms alone.

Tenaya's pipeline has included 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 for PKP2-associated arrhythmogenic right ventricular cardiomyopathy.

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