Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Tenaya Therapeutics has a consensus analyst rating of “Moderate Buy” from seven brokerages, with an average 1-year price target of $4.00 versus its recent trading price around $0.84.
• Recent analyst moves were mixed to bearish: Wall Street Zen cut the stock from hold to sell, and Weiss Ratings reiterated a sell rating.
• The company remains a clinical-stage biotech focused on gene therapy for cardiovascular disease, while its latest quarter showed EPS of -$0.09 in line with estimates but revenue far below expectations at $0.23 million.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.00.

TNYA has been the subject of several recent research reports. Wall Street Zen lowered shares of Tenaya Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Weiss Ratings restated a "sell (e+)" rating on shares of Tenaya Therapeutics in a research report on Thursday, July 2nd.

Hedge Funds Weigh In On Tenaya Therapeutics

Large investors have recently bought and sold shares of the business. Scientech Research LLC acquired a new position in Tenaya Therapeutics in the third quarter valued at approximately $27,000. Integrity Wealth Solutions LLC acquired a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $27,000. Jefferies Financial Group Inc. bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth approximately $99,000. Comerica Bank acquired a new position in Tenaya Therapeutics during the 1st quarter valued at approximately $50,000. Finally, Corient Private Wealth LLC bought a new position in Tenaya Therapeutics during the 4th quarter worth $72,000. Institutional investors own 90.54% of the company's stock.

Tenaya Therapeutics Trading Down 0.7%

Shares of TNYA opened at $0.84 on Friday. The firm has a market cap of $181.76 million, a price-to-earnings ratio of -1.78 and a beta of 2.83. The stock has a 50 day moving average of $0.80 and a 200-day moving average of $0.75. Tenaya Therapeutics has a 52 week low of $0.53 and a 52 week high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.09). The firm had revenue of $0.23 million during the quarter, compared to the consensus estimate of $7.50 million. On average, sell-side analysts predict that Tenaya Therapeutics will post -0.42 earnings per share for the current fiscal 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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