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

Key Points

• Analysts give Tenaya Therapeutics a consensus rating of "Moderate Buy" based on seven analysts (1 sell, 5 buy, 1 strong buy) with an average 12‑month price target of $4.00.
• Stock and financial snapshot: TNYA opened at $0.71, trades in a 12‑month range of $0.36–$2.35 with a market cap of $153.2M, reported Q1 EPS of ($0.12) (in line with estimates), and analysts expect ~($0.44) EPS for the year.
• A major insider (Group Gp Lp Column III) sold 4,056,573 shares at about $0.68 (~$2.76M) and insiders have sold 8,594,047 shares in the last 90 days, with the filing reporting insiders own roughly 48.65% of the stock.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $4.00.

Several brokerages have recently weighed in on TNYA. Chardan Capital restated a "buy" rating and set a $8.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Leerink Partners reiterated an "outperform" rating and issued a $2.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, March 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Lifesci Capital upgraded shares of Tenaya Therapeutics to a "strong-buy" rating in a research note on Thursday, March 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of Tenaya Therapeutics in a report on Thursday, March 12th.

Tenaya Therapeutics Stock Up 2.1%

Tenaya Therapeutics stock opened at $0.71 on Friday. Tenaya Therapeutics has a twelve month low of $0.36 and a twelve month high of $2.35. The company has a market capitalization of $153.16 million, a P/E ratio of -1.14 and a beta of 2.77. The stock's 50 day moving average is $0.72 and its 200 day moving average is $0.95.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12). As a group, equities analysts expect that Tenaya Therapeutics will post -0.44 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total value of $2,758,469.64. Following the completion of the transaction, the insider directly owned 2,348,183 shares in the company, valued at $1,596,764.44. The trade was a 63.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 8,594,047 shares of company stock valued at $5,430,207. 48.65% of the stock is owned by insiders.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TNYA. Scientech Research LLC purchased a new position in shares of Tenaya Therapeutics in the third quarter worth $27,000. Comerica Bank purchased a new stake in shares of Tenaya Therapeutics during the first quarter valued at $50,000. Cerity Partners LLC boosted its position in shares of Tenaya Therapeutics by 403.5% during the second quarter. Cerity Partners LLC now owns 110,336 shares of the company's stock valued at $67,000 after buying an additional 88,424 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Tenaya Therapeutics in the 4th quarter worth about $72,000. Finally, Cetera Investment Advisers increased its holdings in Tenaya Therapeutics by 107.0% in the 4th quarter. Cetera Investment Advisers now owns 106,425 shares of the company's stock worth $76,000 after buying an additional 55,000 shares in the last quarter. Institutional investors own 90.54% of the company's stock.

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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