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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) has been assigned an average recommendation of "Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $6.25.

Several brokerages have recently commented on TNYA. Morgan Stanley decreased their price target on Tenaya Therapeutics from $15.00 to $5.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Chardan Capital reaffirmed a "buy" rating and set a $9.00 target price on shares of Tenaya Therapeutics in a research note on Friday, May 9th. Canaccord Genuity Group dropped their price target on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of Tenaya Therapeutics in a research note on Friday, April 25th.

Institutional Investors Weigh In On Tenaya Therapeutics

Large investors have recently added to or reduced their stakes in the business. Woodline Partners LP acquired a new position in shares of Tenaya Therapeutics in the fourth quarter worth $28,000. Commerce Bank acquired a new position in Tenaya Therapeutics during the 4th quarter worth $29,000. Mariner LLC purchased a new stake in Tenaya Therapeutics during the 4th quarter worth about $30,000. Ground Swell Capital LLC acquired a new stake in Tenaya Therapeutics in the 4th quarter valued at about $32,000. Finally, Northern Trust Corp boosted its stake in shares of Tenaya Therapeutics by 6.2% in the 4th quarter. Northern Trust Corp now owns 472,479 shares of the company's stock valued at $676,000 after buying an additional 27,632 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

Tenaya Therapeutics Trading Down 4.7%

TNYA stock traded down $0.03 during trading on Monday, reaching $0.58. 1,090,607 shares of the stock were exchanged, compared to its average volume of 2,707,296. The firm has a market capitalization of $94.89 million, a price-to-earnings ratio of -0.50 and a beta of 3.00. The business has a 50 day moving average price of $0.53 and a 200-day moving average price of $0.79. Tenaya Therapeutics has a 1 year low of $0.36 and a 1 year high of $4.06.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last released its quarterly 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). On average, research analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current 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.