Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Target Price at $4.50

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.50.

TNYA has been the subject of a number of research reports. Canaccord Genuity Group dropped their price objective on Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Morgan Stanley set a $2.00 target price on Tenaya Therapeutics in a research report on Thursday, January 8th. Chardan Capital reduced their price target on shares of Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. HC Wainwright cut their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenaya Therapeutics in a report on Wednesday, January 21st.

Institutional Investors Weigh In On Tenaya Therapeutics

Several large investors have recently bought and sold shares of TNYA. Mirador Capital Partners LP raised its position in Tenaya Therapeutics by 2,378.8% in the 4th quarter. Mirador Capital Partners LP now owns 582,524 shares of the company’s stock valued at $414,000 after purchasing an additional 559,024 shares in the last quarter. Scientech Research LLC acquired a new stake in Tenaya Therapeutics in the third quarter valued at approximately $27,000. Millennium Management LLC lifted its stake in Tenaya Therapeutics by 561.7% in the third quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock worth $7,297,000 after acquiring an additional 3,823,848 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Tenaya Therapeutics in the third quarter worth approximately $755,000. Finally, Two Sigma Investments LP grew its holdings in Tenaya Therapeutics by 91.8% during the 3rd quarter. Two Sigma Investments LP now owns 910,568 shares of the company’s stock worth $1,475,000 after acquiring an additional 435,781 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Tenaya Therapeutics Trading Down 1.2%

Shares of TNYA opened at $0.70 on Friday. The firm has a 50-day moving average price of $0.93 and a 200 day moving average price of $1.15. Tenaya Therapeutics has a 12-month low of $0.36 and a 12-month high of $2.35. The firm has a market capitalization of $116.19 million, a P/E ratio of -0.89 and a beta of 3.18.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.03. Equities research analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

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.