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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $4.00.

Several analysts recently commented on TNYA shares. Weiss Ratings upgraded Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 28th. Wall Street Zen lowered Tenaya Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th.

Tenaya Therapeutics Trading Up 1.5%

Shares of TNYA opened at $0.74 on Tuesday. Tenaya Therapeutics has a 52 week low of $0.53 and a 52 week high of $2.35. The firm has a market cap of $160.02 million, a price-to-earnings ratio of -1.39 and a beta of 2.83. The stock has a 50 day moving average of $0.77 and a 200-day moving average of $0.76.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.13). The firm had revenue of $1.11 million for the quarter, compared to analyst estimates of $10.00 million. On average, sell-side analysts predict that Tenaya Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Tenaya Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Scientech Research LLC acquired a new stake in Tenaya Therapeutics during the 3rd quarter worth about $27,000. Integrity Wealth Solutions LLC acquired a new position in Tenaya Therapeutics in the first quarter worth approximately $27,000. Comerica Bank bought a new position in Tenaya Therapeutics during the first quarter valued at approximately $50,000. Cerity Partners LLC grew its position in Tenaya Therapeutics by 403.5% in the second quarter. Cerity Partners LLC now owns 110,336 shares of the company's stock worth $67,000 after acquiring an additional 88,424 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Tenaya Therapeutics during the 4th quarter valued at $72,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Tenaya Therapeutics Company 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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