BlackRock Inc. Acquires New Stake in Tenaya Therapeutics, Inc. $TNYA

Key Points

• BlackRock acquired 4.01 million shares of Tenaya Therapeutics during the second quarter, valued at approximately $2.96 million and representing a 1.85% stake. Institutional investors collectively own 90.54% of the company.
• Analysts maintain a generally positive view, with an average rating of “Moderate Buy” and a $4.00 price target, despite some firms continuing to rate the stock “Sell.”
• Tenaya shares opened at $0.68, near their 52-week low, after the company reported a quarterly loss of $0.20 per share and revenue of $1.11 million—both worse than analyst expectations.

BlackRock Inc. acquired a new stake in Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,008,719 shares of the company's stock, valued at approximately $2,963,000. BlackRock Inc. owned 1.85% of Tenaya Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of TNYA. Comerica Bank purchased a new stake in shares of Tenaya Therapeutics in the first quarter valued at about $50,000. AQR Capital Management LLC acquired a new stake in Tenaya Therapeutics in the first quarter valued at about $442,000. Woodline Partners LP boosted its holdings in Tenaya Therapeutics by 30,563.2% in the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock valued at $3,373,000 after purchasing an additional 5,896,873 shares in the last quarter. Marshall Wace LLP purchased a new stake in Tenaya Therapeutics in the 2nd quarter valued at approximately $90,000. Finally, Cerity Partners LLC increased its position 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 purchasing an additional 88,424 shares during the period. Hedge funds and other institutional investors own 90.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TNYA. Weiss Ratings raised Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. Wall Street Zen raised Tenaya Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $4.00.

Tenaya Therapeutics Stock Down 1.7%

Shares of TNYA stock opened at $0.68 on Friday. Tenaya Therapeutics, Inc. has a fifty-two week low of $0.53 and a fifty-two week high of $2.35. The stock has a market cap of $153.19 million, a P/E ratio of -1.29 and a beta of 2.77. The business has a fifty 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 released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.13). The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. On average, sell-side analysts anticipate that Tenaya Therapeutics, Inc. will post -0.38 earnings per share 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.

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