abrdn plc Invests $1.06 Million in Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

abrdn plc bought a new position in shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 550,700 shares of the company's stock, valued at approximately $1,063,000. abrdn plc owned 0.70% of Tenaya Therapeutics at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Tenaya Therapeutics during the 3rd quarter valued at $49,000. The Manufacturers Life Insurance Company boosted its position in shares of Tenaya Therapeutics by 43.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company's stock worth $72,000 after acquiring an additional 7,000 shares during the last quarter. Algert Global LLC purchased a new position in Tenaya Therapeutics during the second quarter valued at $74,000. Panagora Asset Management Inc. purchased a new position in shares of Tenaya Therapeutics during the second quarter valued at about $164,000. Finally, Rhumbline Advisers grew its holdings in Tenaya Therapeutics by 10.5% during the 2nd quarter. Rhumbline Advisers now owns 78,160 shares of the company's stock valued at $242,000 after buying an additional 7,441 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

Insider Activity at Tenaya Therapeutics

In other Tenaya Therapeutics news, CEO Faraz Ali sold 9,748 shares of the firm'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 directly owns 188,331 shares in the company, valued at $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 available through the SEC website. Over the last quarter, insiders sold 19,539 shares of company stock worth $56,468. Company insiders own 32.76% of the company's stock.

Analysts Set New Price Targets

TNYA has been the topic of a number of research reports. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Canaccord Genuity Group reissued a "buy" rating and set a $16.00 target price on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Leerink Partners restated an "outperform" rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $15.25.

Tenaya Therapeutics Trading Down 11.6 %

Shares of TNYA stock traded down $0.28 on Tuesday, reaching $2.13. 8,021,924 shares of the company's stock were exchanged, compared to its average volume of 672,803. The company's fifty day simple moving average is $2.07 and its 200 day simple moving average is $3.08. Tenaya Therapeutics, Inc. has a 52 week low of $1.61 and a 52 week high of $7.01. The stock has a market capitalization of $168.04 million, a PE ratio of -1.39 and a beta of 2.34.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.06. As a group, sell-side analysts predict that Tenaya Therapeutics, Inc. will post -1.52 earnings per share for the current fiscal year.

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.