Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Price Target at $4.00

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has received an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.00.

Several analysts recently issued reports on the stock. Leerink Partners reiterated an “outperform” rating and set a $2.00 price target on shares of Tenaya Therapeutics in a research report on Thursday, March 12th. Chardan Capital reissued a “buy” rating and set a $8.00 price target on shares of Tenaya Therapeutics in a report on Thursday, March 12th. Wall Street Zen lowered Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, William Blair reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Thursday, March 12th.

Tenaya Therapeutics Stock Up 1.1%

Shares of Tenaya Therapeutics stock opened at $0.72 on Monday. Tenaya Therapeutics has a twelve month low of $0.53 and a twelve month high of $2.35. The company has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $0.76. The stock has a market capitalization of $155.70 million, a price-to-earnings ratio of -1.53 and a beta of 2.82.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $0.23 million during the quarter, compared to analyst estimates of $7.50 million. On average, sell-side analysts anticipate that Tenaya Therapeutics will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNYA. GSA Capital Partners LLP grew its stake in shares of Tenaya Therapeutics by 220.2% during the fourth quarter. GSA Capital Partners LLP now owns 1,478,612 shares of the company’s stock worth $1,052,000 after buying an additional 1,016,808 shares during the last quarter. Empery Asset Management LP bought a new stake in shares of Tenaya Therapeutics during the fourth quarter worth $3,852,000. Barclays PLC grew its stake in shares of Tenaya Therapeutics by 18,500,000.0% during the fourth quarter. Barclays PLC now owns 185,001 shares of the company’s stock worth $132,000 after buying an additional 185,000 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Tenaya Therapeutics during the fourth quarter worth $127,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Tenaya Therapeutics during the third quarter worth $99,000. Institutional investors own 90.54% of the company’s stock.

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.