Renaissance Technologies LLC Increases Stock Holdings in Tenaya Therapeutics, Inc. $TNYA

Key Points

• Renaissance Technologies doubled its Tenaya Therapeutics stake in the first quarter, adding 1.86 million shares to own 3.71 million shares worth approximately $2.57 million. Institutional investors and hedge funds collectively own 90.54% of TNYA.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $4.00 price target, despite recent downgrades from Weiss Ratings and Wall Street Zen.
• 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 $0.73, near its 50-day and 200-day moving averages.

Renaissance Technologies LLC increased its holdings in shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Free Report) by 100.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,713,761 shares of the company's stock after buying an additional 1,862,894 shares during the quarter. Renaissance Technologies LLC owned about 1.71% of Tenaya Therapeutics worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TNYA. Woodline Partners LP increased its stake in shares of Tenaya Therapeutics by 30,563.2% during the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock valued at $3,373,000 after acquiring an additional 5,896,873 shares during the last quarter. Empery Asset Management LP acquired a new position in Tenaya Therapeutics during the fourth quarter worth approximately $3,852,000. Anson Funds Management LP purchased a new position in Tenaya Therapeutics during the fourth quarter worth approximately $2,955,000. Alyeska Investment Group L.P. acquired a new position in shares of Tenaya Therapeutics in the 4th quarter valued at $2,846,000. Finally, Millennium Management LLC grew its stake in shares of Tenaya Therapeutics by 561.7% during the 3rd quarter. Millennium Management LLC now owns 4,504,592 shares of the company's stock valued at $7,297,000 after buying an additional 3,823,848 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TNYA has been the topic of a number of research analyst reports. Weiss Ratings upgraded Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 28th. Wall Street Zen cut Tenaya Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $4.00.

Tenaya Therapeutics Stock Performance

Tenaya Therapeutics stock opened at $0.73 on Monday. The stock's 50 day moving average price is $0.77 and its 200 day moving average price is $0.76. The firm has a market capitalization of $157.72 million, a PE ratio of -1.37 and a beta of 2.83. Tenaya Therapeutics, Inc. has a one year low of $0.53 and a one year high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $10.00 million. On average, analysts forecast that Tenaya Therapeutics, Inc. will post -0.4 earnings per share for the current fiscal year.

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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