Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Up 39.3% in May

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 12,160,000 shares, a growth of 39.3% from the April 30th total of 8,730,000 shares. Based on an average daily trading volume, of 3,430,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 9.1% of the company's stock are sold short.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Chardan Capital restated a "buy" rating and issued a $9.00 price objective on shares of Tenaya Therapeutics in a report on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and set a $5.00 price objective on shares of Tenaya Therapeutics in a research report on Friday, April 25th. Finally, Morgan Stanley cut their price objective on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tenaya Therapeutics currently has a consensus rating of "Buy" and an average price target of $6.25.

Tenaya Therapeutics Trading Up 2.5%

TNYA traded up $0.01 during trading on Thursday, hitting $0.54. 4,068,090 shares of the company's stock traded hands, compared to its average volume of 2,517,445. The stock has a market capitalization of $87.84 million, a price-to-earnings ratio of -0.38 and a beta of 2.91. The company's 50 day simple moving average is $0.47 and its two-hundred day simple moving average is $1.16. Tenaya Therapeutics has a 12-month low of $0.36 and a 12-month high of $4.06.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last released its quarterly earnings data 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, equities analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors have recently made changes to their positions in TNYA. Woodline Partners LP raised its holdings in shares of Tenaya Therapeutics by 30,563.2% during the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock valued at $3,373,000 after purchasing an additional 5,896,873 shares during the last quarter. JPMorgan Chase & Co. grew its position in Tenaya Therapeutics by 20,670.3% in the 4th quarter. JPMorgan Chase & Co. now owns 5,155,596 shares of the company's stock worth $7,373,000 after purchasing an additional 5,130,774 shares during the period. AQR Capital Management LLC purchased a new stake in Tenaya Therapeutics during the 1st quarter valued at $442,000. Trustees of Columbia University in the City of New York purchased a new position in shares of Tenaya Therapeutics in the 4th quarter worth $417,000. Finally, Nuveen LLC purchased a new stake in Tenaya Therapeutics during the first quarter valued at $129,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

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.