Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Price Target at $6.25

Key Points

• Tenaya Therapeutics has received a consensus "Buy" rating from six analysts, with an average 1-year price target of $6.25.
• Despite the positive outlook, Tenaya's shares have recently trended down, closing at $0.68, which represents a 7.9% decline.
• The company reported a quarterly loss of ($0.24) earnings per share, missing analysts' expectations of ($0.18).

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) have earned an average recommendation of "Buy" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $6.25.

A number of brokerages have issued reports on TNYA. HC Wainwright reissued a "buy" rating and set a $5.00 price objective on shares of Tenaya Therapeutics in a report on Friday, April 25th. Chardan Capital reiterated a "buy" rating and issued a $9.00 price objective on shares of Tenaya Therapeutics in a research report on Friday, May 9th.

Hedge Funds Weigh In On Tenaya Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its position in Tenaya Therapeutics by 25.2% during the 2nd quarter. CWM LLC now owns 90,087 shares of the company's stock worth $55,000 after acquiring an additional 18,142 shares during the last quarter. Woodline Partners LP boosted its position in Tenaya Therapeutics by 30,563.2% during the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock worth $3,373,000 after acquiring an additional 5,896,873 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $442,000. DAFNA Capital Management LLC bought a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $27,000. Finally, Ieq Capital LLC bought a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $95,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Tenaya Therapeutics Stock Performance

Shares of TNYA traded up $0.00 during mid-day trading on Friday, hitting $0.68. The company's stock had a trading volume of 984,193 shares, compared to its average volume of 2,800,888. Tenaya Therapeutics has a one year low of $0.36 and a one year high of $4.01. The firm has a market capitalization of $109.80 million, a PE ratio of -0.58 and a beta of 3.01. The stock's 50-day moving average is $0.64 and its two-hundred day moving average is $0.69.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

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.