Leerink Partnrs Issues Optimistic Estimate for TNYA Earnings

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Free Report) - Leerink Partnrs lifted their FY2024 earnings per share estimates for shares of Tenaya Therapeutics in a research report issued to clients and investors on Wednesday, November 6th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings of ($1.33) per share for the year, up from their prior estimate of ($1.54). The consensus estimate for Tenaya Therapeutics' current full-year earnings is ($1.40) per share. Leerink Partnrs also issued estimates for Tenaya Therapeutics' Q4 2024 earnings at ($0.29) EPS and FY2025 earnings at ($1.33) EPS.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group restated a "buy" rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler restated an "overweight" rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Leerink Partners reiterated an "outperform" rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Chardan Capital lowered their price target on Tenaya Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.75.

Tenaya Therapeutics Trading Down 6.9 %

Shares of NASDAQ TNYA traded down $0.19 during mid-day trading on Monday, reaching $2.57. The company had a trading volume of 6,093,492 shares, compared to its average volume of 773,638. The stock has a market cap of $202.74 million, a PE ratio of -1.78 and a beta of 2.34. The company has a 50-day moving average price of $2.04 and a two-hundred day moving average price of $3.01. Tenaya Therapeutics has a 1-year low of $1.61 and a 1-year high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.07.

Institutional Trading of Tenaya Therapeutics

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

Insider Buying and Selling at Tenaya Therapeutics

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the transaction, the chief executive officer now owns 188,331 shares in the company, valued at $544,276.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 19,539 shares of company stock worth $56,468 over the last 90 days. 32.76% of the stock is currently owned by corporate insiders.

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.