Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Analysts have given Tenaya Therapeutics, Inc. (NASDAQ:TNYA) a consensus recommendation of "Buy", with an average 12-month price target of $6.25.
• Despite a recent drop of 5.3% in stock price, Tenaya reported better-than-expected quarterly earnings, with an EPS of ($0.14) compared to estimates of ($0.20).
• A significant 90.54% of Tenaya's stock is currently owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.25.

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Tenaya Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Chardan Capital restated a "buy" rating and set a $9.00 target price on shares of Tenaya Therapeutics in a research note on Thursday, August 7th. Finally, HC Wainwright restated a "buy" rating and set a $5.00 target price on shares of Tenaya Therapeutics in a research note on Wednesday.

Tenaya Therapeutics Price Performance

Shares of TNYA remained flat at $1.13 during midday trading on Tuesday. The stock had a trading volume of 2,146,200 shares, compared to its average volume of 4,040,509. The company has a 50-day moving average price of $0.81 and a 200-day moving average price of $0.67. The firm has a market capitalization of $184.17 million, a price-to-earnings ratio of -1.18 and a beta of 3.06. Tenaya Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $4.01.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. On average, analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors have recently added to or reduced their stakes in TNYA. Woodline Partners LP lifted its stake in Tenaya Therapeutics by 30,563.2% during the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock worth $3,373,000 after purchasing an additional 5,896,873 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Tenaya Therapeutics during the first quarter worth approximately $442,000. Marex Group plc purchased a new stake in Tenaya Therapeutics during the second quarter worth approximately $252,000. Jane Street Group LLC lifted its stake in Tenaya Therapeutics by 1,958.7% during the second quarter. Jane Street Group LLC now owns 376,068 shares of the company's stock worth $230,000 after purchasing an additional 357,801 shares during the last quarter. Finally, Trustees of Columbia University in the City of New York purchased a new stake in Tenaya Therapeutics during the fourth quarter worth approximately $417,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

About Tenaya Therapeutics

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.