1,555,500 Shares in Tenaya Therapeutics, Inc. $TNYA Purchased by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management purchased 1,555,500 Tenaya Therapeutics shares in the second quarter, valued at approximately $1.15 million and representing 0.69% of the company. Institutional investors collectively own 90.54% of TNYA.
• Tenaya 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.
• TNYA opened at $0.70, near its 52-week low of $0.53, despite a consensus analyst rating of “Moderate Buy” and an average price target of $4.00.

ADAR1 Capital Management LLC bought a new stake in shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,555,500 shares of the company's stock, valued at approximately $1,150,000. ADAR1 Capital Management LLC owned 0.69% of Tenaya Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNYA. Scientech Research LLC bought a new stake in Tenaya Therapeutics in the 3rd quarter valued at $27,000. Integrity Wealth Solutions LLC bought a new stake in Tenaya Therapeutics in the first quarter valued at about $27,000. Callan Family Office LLC bought a new stake in Tenaya Therapeutics in the second quarter valued at about $37,000. Comerica Bank acquired a new position in Tenaya Therapeutics in the first quarter worth about $50,000. Finally, Cerity Partners LLC grew its stake in shares of Tenaya Therapeutics by 403.5% in the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company's stock valued at $67,000 after purchasing an additional 88,424 shares during the period. Institutional investors and hedge funds own 90.54% of the company's stock.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA opened at $0.70 on Wednesday. The company has a market capitalization of $157.27 million, a PE ratio of -1.32 and a beta of 2.83. Tenaya Therapeutics, Inc. has a 52 week low of $0.53 and a 52 week high of $2.35. The company has a 50 day moving average price of $0.76 and a two-hundred day moving average price of $0.75.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.13). The firm had revenue of $1.11 million for the quarter, compared to the consensus estimate of $10.00 million. On average, sell-side analysts forecast that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on TNYA shares. Weiss Ratings raised Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. Wall Street Zen downgraded Tenaya Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.00.

Tenaya Therapeutics Profile

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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