Research Analysts Offer Predictions for TNYA FY2024 Earnings

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Free Report) - Research analysts at HC Wainwright lifted their FY2024 earnings per share estimates for Tenaya Therapeutics in a report released on Thursday, November 7th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings of ($1.35) per share for the year, up from their previous forecast of ($1.46). HC Wainwright has a "Buy" rating and a $18.00 price target on the stock. The consensus estimate for Tenaya Therapeutics' current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Tenaya Therapeutics' Q4 2024 earnings at ($0.31) EPS, FY2025 earnings at ($1.34) EPS, FY2026 earnings at ($1.35) EPS, FY2027 earnings at ($1.07) EPS and FY2028 earnings at ($0.64) EPS.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.07.

TNYA has been the topic of a number of other reports. Chardan Capital decreased their price target on Tenaya Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday. Canaccord Genuity Group restated a "buy" rating and set a $16.00 price target on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Leerink Partners restated an "outperform" rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Piper Sandler restated an "overweight" rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tenaya Therapeutics has an average rating of "Buy" and a consensus target price of $14.75.

Tenaya Therapeutics Stock Performance

Shares of TNYA stock traded down $0.19 during trading hours on Monday, hitting $2.57. The company had a trading volume of 6,093,492 shares, compared to its average volume of 773,638. Tenaya Therapeutics has a 12 month low of $1.61 and a 12 month high of $7.01. The firm has a market capitalization of $202.74 million, a price-to-earnings ratio of -1.78 and a beta of 2.34. The firm's fifty day moving average is $2.04 and its 200 day moving average is $3.01.

Insiders Place Their Bets

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.89, for a total transaction of $28,171.72. Following the transaction, the chief executive officer now owns 188,331 shares of the company's stock, valued at approximately $544,276.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 19,539 shares of company stock valued at $56,468. 32.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Tenaya Therapeutics in the 3rd quarter valued at $49,000. The Manufacturers Life Insurance Company lifted its stake in shares of Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company's stock valued at $72,000 after purchasing an additional 7,000 shares during the period. Algert Global LLC acquired a new position in shares of Tenaya Therapeutics in the 2nd quarter valued at $74,000. Panagora Asset Management Inc. acquired a new position in shares of Tenaya Therapeutics in the 2nd quarter valued at $164,000. Finally, Rhumbline Advisers raised its stake in Tenaya Therapeutics by 10.5% during the 2nd quarter. Rhumbline Advisers now owns 78,160 shares of the company's stock worth $242,000 after buying an additional 7,441 shares during the period. Institutional investors and hedge funds own 90.54% of the company's stock.

Tenaya Therapeutics Company Profile

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.