Tenaya Therapeutics (NASDAQ:TNYA) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Tenaya Therapeutics from a "sell" rating to a "hold" rating, indicating a more favorable outlook on the stock.
• Analysts maintain a consensus rating of "Moderate Buy" with a target price of $6.25 following the upgrade.
• Tenaya Therapeutics, specializing in heart disease therapies, reported an EPS of ($0.14), beating estimates, and several institutional investors have increased their stakes in the company recently.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also commented on TNYA. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 price target on shares of Tenaya Therapeutics in a research note on Friday, April 25th. Chardan Capital reiterated a "buy" rating and issued a $9.00 price objective on shares of Tenaya Therapeutics in a report on Thursday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Tenaya Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $6.25.

Tenaya Therapeutics Trading Up 12.0%

Shares of NASDAQ:TNYA traded up $0.09 during trading on Friday, reaching $0.85. 2,094,901 shares of the company traded hands, compared to its average volume of 2,747,663. The firm has a market capitalization of $138.21 million, a price-to-earnings ratio of -0.87 and a beta of 3.01. Tenaya Therapeutics has a 52-week low of $0.36 and a 52-week high of $4.01. The business's fifty day moving average is $0.68 and its 200-day moving average is $0.66.

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

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors have recently modified their holdings of the business. CWM LLC boosted its position in shares of Tenaya Therapeutics by 25.2% during the second quarter. CWM LLC now owns 90,087 shares of the company's stock valued at $55,000 after buying an additional 18,142 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at $28,000. Commerce Bank purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at $29,000. Mariner LLC purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at $30,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at $32,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

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.