Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Update

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,090,000 shares, an increase of 21.2% from the March 15th total of 2,550,000 shares. Approximately 5.0% of the company's shares are short sold. Based on an average daily trading volume, of 609,900 shares, the short-interest ratio is currently 5.1 days.

Tenaya Therapeutics Price Performance

Tenaya Therapeutics stock traded down $0.23 during midday trading on Friday, hitting $4.46. 324,008 shares of the company were exchanged, compared to its average volume of 420,964. The company's fifty day moving average price is $5.29 and its 200-day moving average price is $3.53. The company has a market cap of $350.18 million, a PE ratio of -2.67 and a beta of 2.60. Tenaya Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $8.09.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. On average, analysts expect that Tenaya Therapeutics will post -1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, March 21st. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Tuesday, March 19th. Finally, Canaccord Genuity Group reduced their price target on Tenaya Therapeutics from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, March 20th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $15.40.

Insiders Place Their Bets

In other Tenaya Therapeutics news, CEO Faraz Ali sold 6,358 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.86, for a total value of $37,257.88. Following the sale, the chief executive officer now directly owns 113,079 shares of the company's stock, valued at approximately $662,642.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Timothy Hoey sold 6,569 shares of Tenaya Therapeutics stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $5.34, for a total value of $35,078.46. Following the transaction, the insider now directly owns 236,146 shares of the company's stock, valued at approximately $1,261,019.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Faraz Ali sold 6,358 shares of Tenaya Therapeutics stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.86, for a total value of $37,257.88. Following the completion of the transaction, the chief executive officer now directly owns 113,079 shares in the company, valued at $662,642.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,908 shares of company stock valued at $122,867. Insiders own 33.83% of the company's stock.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. HighPoint Advisor Group LLC purchased a new stake in Tenaya Therapeutics during the 4th quarter worth approximately $228,000. Vanguard Group Inc. increased its holdings in Tenaya Therapeutics by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 2,459,444 shares of the company's stock worth $7,969,000 after purchasing an additional 291,576 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Tenaya Therapeutics by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,544,543 shares of the company's stock worth $14,725,000 after purchasing an additional 69,377 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Tenaya Therapeutics by 29.5% during the 4th quarter. GSA Capital Partners LLP now owns 470,845 shares of the company's stock worth $1,526,000 after purchasing an additional 107,352 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in Tenaya Therapeutics by 6.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 193,000 shares of the company's stock worth $625,000 after purchasing an additional 11,100 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.