Tenaya Therapeutics (NASDAQ:TNYA) Trading Down 3.9% - What's Next?

Key Points

• Tenaya Therapeutics shares fell 3.9% on Monday, trading as low as $0.80 and ending near $0.84, with volume slightly below its average daily level.
• Analyst sentiment remains mixed but generally cautious: the stock holds an average “Moderate Buy” rating with a consensus price target of $4.00, though some firms have recently issued or reiterated sell ratings.
• The company’s latest earnings showed revenue far below expectations at $0.23 million versus $7.50 million expected, even as EPS matched estimates; Tenaya remains a clinical-stage biotech focused on gene therapies for cardiovascular diseases.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) traded down 3.9% on Monday . The company traded as low as $0.80 and last traded at $0.8365. 2,369,472 shares were traded during trading, a decline of 6% from the average daily volume of 2,526,854 shares. The stock had previously closed at $0.8704.

Analysts Set New Price Targets

Several research firms have weighed in on TNYA. Weiss Ratings reiterated a "sell (e+)" rating on shares of Tenaya Therapeutics in a report on Thursday, July 2nd. Wall Street Zen downgraded Tenaya Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tenaya Therapeutics has an average rating of "Moderate Buy" and an average target price of $4.00.

Tenaya Therapeutics Trading Down 3.9%

The stock's 50 day moving average price is $0.79 and its 200 day moving average price is $0.75. The company has a market capitalization of $181.52 million, a price-to-earnings ratio of -1.78 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.09). The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $7.50 million. On average, research analysts expect that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds have recently bought and sold shares of TNYA. Empery Asset Management LP acquired a new position in Tenaya Therapeutics during the fourth quarter worth approximately $3,852,000. GSA Capital Partners LLP lifted its position in shares of Tenaya Therapeutics by 220.2% in the fourth quarter. GSA Capital Partners LLP now owns 1,478,612 shares of the company's stock valued at $1,052,000 after buying an additional 1,016,808 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Tenaya Therapeutics by 883.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 194,800 shares of the company's stock valued at $139,000 after buying an additional 175,000 shares during the last quarter. Barclays PLC boosted its stake in shares of Tenaya Therapeutics by 18,500,000.0% during the 4th quarter. Barclays PLC now owns 185,001 shares of the company's stock worth $132,000 after acquiring an additional 185,000 shares during the period. Finally, Graham Capital Management L.P. bought a new position in shares of Tenaya Therapeutics during the 4th quarter worth approximately $127,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

About Tenaya Therapeutics

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.

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