Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Average Rating of "Buy" by Analysts

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) have earned a consensus rating of "Buy" from the six research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $15.25.

TNYA has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their target price on shares of Tenaya Therapeutics from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 16th. William Blair initiated coverage on Tenaya Therapeutics in a research report on Monday, June 10th. They issued an "outperform" rating for the company. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research report on Monday, July 8th.

Tenaya Therapeutics Stock Down 4.6 %

TNYA traded down $0.11 during midday trading on Tuesday, hitting $2.30. The company had a trading volume of 348,146 shares, compared to its average volume of 442,201. The company has a market capitalization of $181.45 million, a price-to-earnings ratio of -1.38 and a beta of 2.39. The stock's 50 day moving average price is $3.04 and its 200 day moving average price is $3.99. Tenaya Therapeutics has a 52 week low of $1.66 and a 52 week high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.06. Research analysts predict that Tenaya Therapeutics will post -1.52 EPS for the current year.

Insider Activity

In related news, CEO Faraz Ali sold 9,748 shares of the stock in a transaction on Friday, August 16th. The shares were 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 19,539 shares of company stock worth $56,468. 32.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Tenaya Therapeutics by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company's stock valued at $14,973,000 after purchasing an additional 403,472 shares during the last quarter. RA Capital Management L.P. boosted its stake in shares of Tenaya Therapeutics by 4.5% during the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company's stock valued at $30,099,000 after purchasing an additional 247,703 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Tenaya Therapeutics by 144.1% in the second quarter. Renaissance Technologies LLC now owns 157,460 shares of the company's stock worth $488,000 after buying an additional 92,960 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Tenaya Therapeutics by 90.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company's stock worth $882,000 after acquiring an additional 80,212 shares during the period. Finally, Integral Health Asset Management LLC lifted its stake in shares of Tenaya Therapeutics by 3.3% in the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company's stock valued at $7,208,000 after purchasing an additional 75,000 shares during the period. 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.