Tenaya Therapeutics (NASDAQ:TNYA) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Tenaya Therapeutics has been given a "sell (D-)" rating by Weiss Ratings, indicating significant concerns about its stock performance.
• Despite this, some brokerages like Chardan Capital and HC Wainwright have reiterated "buy" ratings with price targets of $9.00 and $5.00 respectively, showing mixed analyst sentiments.
• The company recently reported earnings of ($0.14) per share, outperforming analyst expectations, and is involved in developing therapies for heart disease through advanced gene therapy and cellular technologies.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on TNYA. Chardan Capital reiterated a "buy" rating and set a $9.00 price objective on shares of Tenaya Therapeutics in a research note on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and set a $5.00 price objective on shares of Tenaya Therapeutics in a research note on Tuesday, September 2nd. Finally, Wall Street Zen upgraded Tenaya Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Tenaya Therapeutics has an average rating of "Moderate Buy" and an average target price of $6.25.

Tenaya Therapeutics Stock Performance

Shares of TNYA traded up $0.06 on Wednesday, reaching $1.83. The stock had a trading volume of 4,114,667 shares, compared to its average volume of 3,256,017. The firm has a market capitalization of $298.25 million, a price-to-earnings ratio of -1.91 and a beta of 3.15. The company has a 50-day simple moving average of $1.21 and a 200-day simple moving average of $0.79. Tenaya Therapeutics has a 12-month low of $0.36 and a 12-month 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 analysts' consensus estimates of ($0.20) by $0.06. On average, analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TNYA. DAFNA Capital Management LLC bought a new stake in shares of Tenaya Therapeutics in the first quarter worth $27,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Tenaya Therapeutics in the first quarter worth $33,000. Mirador Capital Partners LP grew its holdings in shares of Tenaya Therapeutics by 38.2% in the third quarter. Mirador Capital Partners LP now owns 23,500 shares of the company's stock worth $38,000 after acquiring an additional 6,500 shares during the period. CWM LLC grew its holdings in shares of Tenaya Therapeutics by 14,231.7% in the first quarter. CWM LLC now owns 71,945 shares of the company's stock worth $41,000 after acquiring an additional 71,443 shares during the period. Finally, Comerica Bank bought a new stake in shares of Tenaya Therapeutics in the first quarter worth $50,000. 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.

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