Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Receives $6.25 Consensus PT from Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $6.25.

Several equities analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Chardan Capital restated a “buy” rating and issued a $9.00 price target on shares of Tenaya Therapeutics in a research report on Friday, May 9th. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Tenaya Therapeutics in a research note on Friday, April 25th. Finally, Canaccord Genuity Group dropped their price target on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th.

Institutional Investors Weigh In On Tenaya Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DAFNA Capital Management LLC purchased a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $27,000. Woodline Partners LP purchased a new position in shares of Tenaya Therapeutics during the fourth quarter worth about $28,000. Commerce Bank bought a new position in shares of Tenaya Therapeutics during the 4th quarter valued at about $29,000. Mariner LLC bought a new position in Tenaya Therapeutics during the fourth quarter valued at approximately $30,000. Finally, Ground Swell Capital LLC bought a new position in shares of Tenaya Therapeutics during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Trading Up 5.2%

Shares of TNYA opened at $0.62 on Thursday. The stock’s 50-day moving average price is $0.49 and its two-hundred day moving average price is $1.02. Tenaya Therapeutics has a 1 year low of $0.36 and a 1 year high of $4.06. The stock has a market cap of $101.23 million, a P/E ratio of -0.43 and a beta of 2.91.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). As a group, equities analysts forecast that Tenaya Therapeutics will post -1.35 EPS for the current year.

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.