Brokerages Set Tenaya Therapeutics, Inc. (NASDAQ:TNYA) PT at $6.25

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) have received an average recommendation of "Buy" from the seven research firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.25.

TNYA has been the topic of several research analyst reports. Chardan Capital cut their price objective on Tenaya Therapeutics from $18.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Morgan Stanley reduced their price target on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. HC Wainwright reissued a "buy" rating and issued a $5.00 price objective on shares of Tenaya Therapeutics in a research note on Monday. Finally, Canaccord Genuity Group cut their target price on shares of Tenaya Therapeutics from $18.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA traded up $0.00 during midday trading on Friday, reaching $0.55. 669,431 shares of the company's stock were exchanged, compared to its average volume of 3,311,458. The firm's 50 day simple moving average is $0.87 and its two-hundred day simple moving average is $1.66. Tenaya Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $5.10. The stock has a market cap of $47.82 million, a price-to-earnings ratio of -0.38 and a beta of 2.83.

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Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.04. Equities research analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the transaction, the insider now owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. This trade represents a 262.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 19,621 shares of company stock valued at $10,595. 32.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenaya Therapeutics

Several large investors have recently bought and sold shares of TNYA. FMR LLC boosted its position in shares of Tenaya Therapeutics by 1.9% during the 3rd quarter. FMR LLC now owns 1,345,938 shares of the company's stock worth $2,598,000 after acquiring an additional 25,503 shares in the last quarter. Walleye Capital LLC purchased a new stake in Tenaya Therapeutics during the third quarter worth approximately $134,000. Jacobs Levy Equity Management Inc. boosted its holdings in Tenaya Therapeutics by 204.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company's stock valued at $651,000 after purchasing an additional 226,466 shares in the last quarter. State Street Corp increased its stake in Tenaya Therapeutics by 0.9% in the third quarter. State Street Corp now owns 1,058,898 shares of the company's stock valued at $2,044,000 after purchasing an additional 9,506 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Tenaya Therapeutics by 35.6% during the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company's stock worth $568,000 after purchasing an additional 77,235 shares in the last quarter. Hedge funds and other institutional investors 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.