Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Update

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 16,690,000 shares, a growth of 18.8% from the November 30th total of 14,050,000 shares. Based on an average daily trading volume, of 4,350,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 25.4% of the company's shares are short sold.

Tenaya Therapeutics Price Performance

Shares of TNYA traded down $0.11 during mid-day trading on Friday, hitting $1.50. 3,417,790 shares of the company's stock were exchanged, compared to its average volume of 1,486,769. The company has a 50-day simple moving average of $2.41 and a 200 day simple moving average of $2.61. The company has a market cap of $118.83 million, a PE ratio of -1.04 and a beta of 2.72. Tenaya Therapeutics has a 52 week low of $0.99 and a 52 week high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.07. On average, analysts anticipate that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TNYA. Synovus Financial Corp acquired a new position in shares of Tenaya Therapeutics during the 3rd quarter worth about $28,000. SG Americas Securities LLC acquired a new position in Tenaya Therapeutics during the third quarter worth approximately $49,000. The Manufacturers Life Insurance Company raised its stake in Tenaya Therapeutics by 43.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company's stock valued at $72,000 after buying an additional 7,000 shares during the period. Algert Global LLC acquired a new stake in shares of Tenaya Therapeutics in the second quarter valued at approximately $74,000. Finally, XTX Topco Ltd boosted its stake in shares of Tenaya Therapeutics by 51.2% during the 3rd quarter. XTX Topco Ltd now owns 49,290 shares of the company's stock worth $95,000 after acquiring an additional 16,687 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TNYA has been the topic of several recent analyst reports. Canaccord Genuity Group reissued a "buy" rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Leerink Partners restated an "outperform" rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tenaya Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $17.33.

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.