Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Rating of “Buy” by Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $17.33.

TNYA has been the subject of several recent research reports. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Monday, February 3rd. Finally, Chardan Capital reissued a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th.

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNYA. Synovus Financial Corp acquired a new stake in Tenaya Therapeutics in the 3rd quarter worth approximately $28,000. Mariner LLC acquired a new stake in Tenaya Therapeutics in the 4th quarter worth approximately $30,000. SG Americas Securities LLC acquired a new stake in Tenaya Therapeutics in the 3rd quarter worth approximately $49,000. Spire Wealth Management acquired a new stake in Tenaya Therapeutics in the 4th quarter worth approximately $53,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Tenaya Therapeutics in the 4th quarter worth approximately $64,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Tenaya Therapeutics Price Performance

NASDAQ:TNYA opened at $0.95 on Friday. Tenaya Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $7.01. The stock’s 50-day moving average is $1.58 and its two-hundred day moving average is $2.13. The stock has a market cap of $75.03 million, a PE ratio of -0.66 and a beta of 2.84.

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.