Tenaya Therapeutics (NASDAQ:TNYA) Receives "Buy" Rating from HC Wainwright

Key Points

• Tenaya Therapeutics received a "Buy" rating from HC Wainwright with a price target of $5.00, indicating a potential upside of 362.96% based on its current stock price.
• Other analysts, including Chardan Capital, have also rated the stock as a "Buy," with a consensus average target price of $6.25.
• Tenaya Therapeutics is actively developing treatments for heart disease, with multiple therapies in various stages of clinical development.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $5.00 price objective on the stock. HC Wainwright's target price suggests a potential upside of 362.96% from the stock's current price.

Several other research analysts have also recently commented on TNYA. Chardan Capital reiterated a "buy" rating and issued a $9.00 target price on shares of Tenaya Therapeutics in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Tenaya Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $6.25.

Tenaya Therapeutics Price Performance

Shares of TNYA opened at $1.08 on Wednesday. The firm's 50 day moving average is $0.78 and its 200-day moving average is $0.67. The stock has a market capitalization of $176.02 million, a P/E ratio of -1.13 and a beta of 3.01. 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, topping the consensus estimate of ($0.20) by $0.06. As a group, equities research analysts forecast that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Marex Group plc acquired a new stake in Tenaya Therapeutics during the second quarter worth $252,000. Jane Street Group LLC boosted its stake in shares of Tenaya Therapeutics by 1,958.7% in the 2nd quarter. Jane Street Group LLC now owns 376,068 shares of the company's stock valued at $230,000 after purchasing an additional 357,801 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Tenaya Therapeutics by 403.5% in the 2nd quarter. Cerity Partners LLC now owns 110,336 shares of the company's stock valued at $67,000 after purchasing an additional 88,424 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Tenaya Therapeutics in the 2nd quarter valued at $90,000. Finally, Savant Capital LLC acquired a new stake in shares of Tenaya Therapeutics in the 2nd quarter valued at $52,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.