Tenaya Therapeutics' (TNYA) "Buy" Rating Reaffirmed at HC Wainwright

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $18.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 323.53% from the stock's current price.

A number of other equities research analysts have also weighed in on TNYA. Chardan Capital restated a "buy" rating and set a $20.00 price objective on shares of Tenaya Therapeutics in a report on Thursday, March 21st. Canaccord Genuity Group cut their price target on shares of Tenaya Therapeutics from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, March 20th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $15.40.

Tenaya Therapeutics Price Performance

NASDAQ TNYA traded down $0.15 during trading hours on Wednesday, hitting $4.25. The company had a trading volume of 331,787 shares, compared to its average volume of 498,511. The firm's 50 day moving average is $4.77 and its 200 day moving average is $3.88. The company has a market capitalization of $333.71 million, a price-to-earnings ratio of -2.69 and a beta of 2.61. 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 posted its earnings results on Monday, March 18th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.05. On average, equities analysts anticipate that Tenaya Therapeutics will post -1.7 EPS for the current year.

Insider Buying and Selling at Tenaya Therapeutics

In related news, insider Timothy Hoey sold 6,569 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.34, for a total transaction of $35,078.46. Following the completion of the transaction, the insider now directly owns 236,146 shares in the company, valued at approximately $1,261,019.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Timothy Hoey sold 6,569 shares of Tenaya Therapeutics stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $5.34, for a total transaction of $35,078.46. Following the sale, the insider now owns 236,146 shares of the company's stock, valued at $1,261,019.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Faraz Ali sold 6,358 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $5.86, for a total value of $37,257.88. Following the transaction, the chief executive officer now owns 113,079 shares of the company's stock, valued at approximately $662,642.94. The disclosure for this sale can be found here. Insiders sold a total of 20,908 shares of company stock worth $122,867 over the last ninety days. Company insiders own 32.76% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Redwood Wealth Management Group LLC boosted its stake in shares of Tenaya Therapeutics by 38.0% during the 4th quarter. Redwood Wealth Management Group LLC now owns 16,350 shares of the company's stock worth $53,000 after acquiring an additional 4,500 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Tenaya Therapeutics in the 3rd quarter valued at $54,000. Pale Fire Capital SE purchased a new position in Tenaya Therapeutics in the 3rd quarter worth about $72,000. Bailard Inc. purchased a new stake in Tenaya Therapeutics during the fourth quarter valued at about $107,000. Finally, NEOS Investment Management LLC purchased a new stake in Tenaya Therapeutics during the fourth quarter valued at about $201,000. Institutional investors own 90.54% of the company's stock.

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.