Tenaya Therapeutics (NASDAQ:TNYA) Given New $5.00 Price Target at Morgan Stanley

Tenaya Therapeutics (NASDAQ:TNYA) had its price target decreased by Morgan Stanley from $15.00 to $5.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

TNYA has been the topic of several other reports. HC Wainwright decreased their price objective on shares of Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday. Chardan Capital lowered their price objective on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tenaya Therapeutics presently has an average rating of “Buy” and a consensus price target of $8.75.

Tenaya Therapeutics Stock Performance

TNYA stock opened at $0.54 on Wednesday. Tenaya Therapeutics has a one year low of $0.39 and a one year high of $5.73. The firm’s fifty day moving average is $1.11 and its 200 day moving average is $1.85. The firm has a market cap of $42.78 million, a PE ratio of -0.38 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. Research analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the transaction, the insider now directly owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. The trade was a 262.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders sold 19,621 shares of company stock worth $10,595. Insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Tenaya Therapeutics by 20,670.3% in the fourth quarter. JPMorgan Chase & Co. now owns 5,155,596 shares of the company’s stock valued at $7,373,000 after purchasing an additional 5,130,774 shares in the last quarter. FMR LLC grew its position in shares of Tenaya Therapeutics by 1.9% during the third quarter. FMR LLC now owns 1,345,938 shares of the company’s stock worth $2,598,000 after acquiring an additional 25,503 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tenaya Therapeutics by 5.4% in the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock valued at $2,502,000 after buying an additional 66,968 shares during the last quarter. State Street Corp lifted its position in Tenaya Therapeutics by 0.9% during the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after acquiring an additional 9,506 shares during the period. Finally, abrdn plc grew its position in Tenaya Therapeutics by 9.1% in the 4th quarter. abrdn plc now owns 600,700 shares of the company’s stock valued at $859,000 after buying an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

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.