Tenaya Therapeutics' (TNYA) "Buy" Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA - Free Report) in a report released on Friday, Benzinga reports. Canaccord Genuity Group currently has a $16.00 target price on the stock.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a report on Friday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $15.25.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA traded down $0.11 during trading hours on Friday, hitting $2.04. The stock had a trading volume of 2,723,949 shares, compared to its average volume of 467,822. The stock's fifty day simple moving average is $2.27 and its 200 day simple moving average is $3.29. The firm has a market capitalization of $160.18 million, a price-to-earnings ratio of -1.24 and a beta of 2.35. 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 earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.06. As a group, research analysts anticipate that Tenaya Therapeutics will post -1.52 EPS for the current year.

Insider Buying and Selling

In other news, CEO Faraz Ali sold 9,748 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.89, for a total transaction of $28,171.72. Following the completion of the transaction, the chief executive officer now owns 188,331 shares in the company, valued at approximately $544,276.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 19,539 shares of company stock valued at $56,468 over the last three months. Company insiders own 32.76% of the company's stock.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TNYA. RA Capital Management L.P. grew its holdings in shares of Tenaya Therapeutics by 4.5% in the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company's stock worth $30,099,000 after acquiring an additional 247,703 shares during the last quarter. Vanguard Group Inc. raised its holdings in Tenaya Therapeutics by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company's stock worth $14,973,000 after buying an additional 403,472 shares during the period. Integral Health Asset Management LLC lifted its stake in Tenaya Therapeutics by 3.3% during the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company's stock valued at $7,208,000 after buying an additional 75,000 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tenaya Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company's stock worth $737,000 after buying an additional 26,103 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Tenaya Therapeutics by 90.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company's stock worth $882,000 after buying an additional 80,212 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.