Short Interest in Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Expands By 39.3%

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) saw a large growth in short interest during 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. Currently, 9.1% of the shares of the stock are short sold. Based on an average daily volume of 3,430,000 shares, the days-to-cover ratio is currently 3.5 days.

Tenaya Therapeutics Stock Up 6.5%

TNYA stock traded up $0.03 during trading on Tuesday, hitting $0.49. 2,450,542 shares of the company's stock traded hands, compared to its average volume of 2,501,055. Tenaya Therapeutics has a 1 year low of $0.36 and a 1 year high of $4.06. The business has a fifty day simple moving average of $0.47 and a two-hundred day simple moving average of $1.16. The firm has a market capitalization of $79.71 million, a P/E ratio of -0.34 and a beta of 2.99.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). On average, equities research analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Chardan Capital restated a "buy" rating and set a $9.00 target price on shares of Tenaya Therapeutics in a research report on Friday, May 9th. HC Wainwright reiterated a "buy" rating and issued a $5.00 price objective on shares of Tenaya Therapeutics in a report on Friday, April 25th. Canaccord Genuity Group lowered 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 note on Thursday, March 13th. Finally, Morgan Stanley cut their price objective on Tenaya Therapeutics from $15.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $6.25.

Insider Activity at Tenaya Therapeutics

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $0.70 per share, with a total value of $24,999,998.80. Following the transaction, the insider now owns 49,313,559 shares in the company, valued at $34,519,491.30. The trade was a 262.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 27,137 shares of company stock valued at $13,902. 48.65% of the stock is owned by insiders.

Institutional Trading of Tenaya Therapeutics

Large investors have recently bought and sold shares of the business. DAFNA Capital Management LLC purchased a new stake in shares of Tenaya Therapeutics during the first quarter worth $27,000. Woodline Partners LP acquired a new position in Tenaya Therapeutics during the fourth quarter worth about $28,000. Commerce Bank purchased a new stake in Tenaya Therapeutics during the 4th quarter worth about $29,000. Mariner LLC purchased a new position in Tenaya Therapeutics during the fourth quarter worth about $30,000. Finally, Ground Swell Capital LLC purchased a new position in shares of Tenaya Therapeutics in the 4th quarter worth $32,000. 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.