Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Tenaya a "Moderate Buy" — five firms cover the stock (four buys, one sell) with an average 1‑year price target of $4.50, though individual targets range roughly from $2.00 to $8.00.
• Major insider sale: Group Gp Lp Column III sold 4,056,573 shares at about $0.68 on Feb 11, cutting its stake by 63.34%; company insiders still own 48.65% of shares.
• Shares trade near $0.66 (1‑year range $0.36–$2.35) with a market cap of about $108M and high institutional ownership (~90.54%).

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) have received an average recommendation of "Moderate Buy" from the five research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.50.

A number of research firms recently issued reports on TNYA. Weiss Ratings reissued a "sell (d-)" rating on shares of Tenaya Therapeutics in a research note on Wednesday, January 21st. Chardan Capital reduced their price objective on Tenaya Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, December 12th. HC Wainwright lowered their price objective on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, December 12th. Canaccord Genuity Group cut their price objective on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, December 18th. Finally, Morgan Stanley set a $2.00 price target on Tenaya Therapeutics in a research note on Thursday, January 8th.

Insider Transactions at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of Tenaya Therapeutics stock in a transaction dated 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 owned 2,348,183 shares of the company's stock, valued at $1,596,764.44. This trade represents a 63.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 48.65% of the company's stock.

Institutional Investors Weigh In On Tenaya Therapeutics

Hedge funds have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp acquired a new position in Tenaya Therapeutics during the fourth quarter worth approximately $168,000. Barclays PLC increased its holdings in shares of Tenaya Therapeutics by 18,500,000.0% during the 4th quarter. Barclays PLC now owns 185,001 shares of the company's stock worth $132,000 after acquiring an additional 185,000 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Tenaya Therapeutics by 8,034.4% during the 4th quarter. Marshall Wace LLP now owns 1,406,035 shares of the company's stock worth $998,000 after acquiring an additional 1,388,750 shares during the last quarter. Kalehua Capital Management LLC bought a new stake in Tenaya Therapeutics in the 4th quarter valued at $1,423,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Tenaya Therapeutics during the 4th quarter valued at $2,846,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Tenaya Therapeutics Price Performance

Shares of Tenaya Therapeutics stock opened at $0.66 on Tuesday. Tenaya Therapeutics has a 1 year low of $0.36 and a 1 year high of $2.35. The business has a 50-day moving average of $0.78 and a two-hundred day moving average of $1.15. The company has a market capitalization of $108.07 million, a P/E ratio of -0.85 and a beta of 3.18.

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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