Tenaya Therapeutics (NASDAQ:TNYA) Earns "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 reissued by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright's price objective indicates a potential upside of 342.48% from the company's current price.

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

Tenaya Therapeutics Price Performance

NASDAQ TNYA remained flat at $1.13 on Wednesday. 2,146,200 shares of the company's stock traded hands, compared to its average volume of 4,040,509. Tenaya Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $4.01. The company has a market capitalization of $184.17 million, a P/E ratio of -1.18 and a beta of 3.06. The business has a 50-day moving average of $0.81 and a 200-day moving average of $0.67.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its earnings results 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. Equities research analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Woodline Partners LP lifted its position in Tenaya Therapeutics by 30,563.2% during the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock valued at $3,373,000 after acquiring an additional 5,896,873 shares during the period. AQR Capital Management LLC bought a new stake in shares of Tenaya Therapeutics in the first quarter worth approximately $442,000. Marex Group plc bought a new stake in shares of Tenaya Therapeutics in the second quarter worth approximately $252,000. Jane Street Group LLC grew its stake in shares of Tenaya Therapeutics by 1,958.7% in the second quarter. Jane Street Group LLC now owns 376,068 shares of the company's stock worth $230,000 after acquiring an additional 357,801 shares during the period. Finally, Trustees of Columbia University in the City of New York bought a new stake in Tenaya Therapeutics during the fourth quarter valued at approximately $417,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

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.