Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Stock Has Average Price Target of $4.00

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $4.00.

A number of research analysts have recently commented on TNYA shares. Wall Street Zen upgraded shares of Tenaya Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, September 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenaya Therapeutics in a research note on Monday.

Tenaya Therapeutics Stock Down 1.8%

Shares of Tenaya Therapeutics stock opened at $0.40 on Friday. The stock’s fifty day moving average is $0.59 and its two-hundred day moving average is $0.72. Tenaya Therapeutics has a 52 week low of $0.36 and a 52 week high of $1.65.

Tenaya Therapeutics (NASDAQ:TNYA) last released its earnings results on Wednesday, August 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $10.00 million. As a group, research analysts predict that Tenaya Therapeutics will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Tenaya Therapeutics

Institutional investors have recently modified their holdings of the stock. Spark Investment Management LLC bought a new stake in shares of Tenaya Therapeutics during the second quarter valued at approximately $26,000. Integrity Wealth Solutions LLC bought a new position in Tenaya Therapeutics in the first quarter worth approximately $27,000. Callan Family Office LLC bought a new position in Tenaya Therapeutics in the second quarter worth approximately $37,000. Castleview Partners LLC bought a new position in Tenaya Therapeutics in the first quarter worth approximately $106,000. Finally, Stonepine Capital Management LLC purchased a new position in Tenaya Therapeutics during the 2nd quarter worth $107,429,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for genetic and other serious diseases of the heart. The company combines gene therapy, gene editing, cell therapy and small-molecule drug discovery technologies to target the underlying causes of cardiovascular disease rather than treating symptoms alone.

Tenaya’s pipeline has included TN-201, an adeno-associated virus gene replacement therapy being developed for patients with MYBPC3-associated hypertrophic cardiomyopathy, and TN-401, a gene therapy candidate designed for PKP2-associated arrhythmogenic right ventricular cardiomyopathy.