Tenaya Therapeutics (NASDAQ:TNYA) Receives "Buy" Rating from Chardan Capital

Key Points

• Chardan Capital has reiterated a "buy" rating for Tenaya Therapeutics (NASDAQ:TNYA) with a price target of $9.00, while HC Wainwright also maintained a "buy" rating but with a lower target of $5.00.
• Tenaya Therapeutics has a market capitalization of $114.52 million and reported earnings of ($0.14) per share, exceeding consensus estimates of ($0.20) for the quarter.
• The company's stock has been influenced by institutional investments, with approximately 90.54% of the shares owned by institutional investors.

Chardan Capital reissued their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA - Free Report) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $9.00 target price on the stock.

Separately, HC Wainwright reiterated a "buy" rating and issued a $5.00 target price on shares of Tenaya Therapeutics in a research note on Friday, April 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $6.25.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ TNYA traded up $0.01 during trading on Thursday, hitting $0.67. 1,244,207 shares of the company traded hands, compared to its average volume of 2,309,370. The business's fifty day moving average is $0.67 and its 200 day moving average is $0.67. Tenaya Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $4.01. The firm has a market capitalization of $109.02 million, a price-to-earnings ratio of -0.70 and a beta of 3.01.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.06. On average, analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of large investors have recently modified their holdings of TNYA. Hsbc Holdings PLC purchased a new position in Tenaya Therapeutics during the 4th quarter valued at about $45,000. Northern Trust Corp lifted its position in Tenaya Therapeutics by 6.2% during the 4th quarter. Northern Trust Corp now owns 472,479 shares of the company's stock valued at $676,000 after acquiring an additional 27,632 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Tenaya Therapeutics during the 1st quarter valued at about $33,000. Deutsche Bank AG lifted its position in Tenaya Therapeutics by 304.1% during the 4th quarter. Deutsche Bank AG now owns 129,319 shares of the company's stock valued at $185,000 after acquiring an additional 97,318 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Tenaya Therapeutics by 25.2% during the 4th quarter. Nuveen Asset Management LLC now owns 345,192 shares of the company's stock valued at $494,000 after acquiring an additional 69,377 shares during the period. 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.