Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Down 22.1% in March

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 11,220,000 shares, a decrease of 22.1% from the February 28th total of 14,400,000 shares. Currently, 8.4% of the shares of the company are short sold. Based on an average daily trading volume, of 3,700,000 shares, the short-interest ratio is currently 3.0 days.

Tenaya Therapeutics Trading Down 4.1 %

Shares of NASDAQ:TNYA traded down $0.02 during mid-day trading on Friday, reaching $0.50. The stock had a trading volume of 2,124,855 shares, compared to its average volume of 2,188,736. The firm has a 50 day simple moving average of $0.84 and a two-hundred day simple moving average of $1.65. Tenaya Therapeutics has a twelve month low of $0.39 and a twelve month high of $5.10. The firm has a market cap of $43.69 million, a PE ratio of -0.35 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.04. On average, equities analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Analyst Ratings Changes

TNYA has been the subject of several recent research reports. Chardan Capital dropped their price target on shares of Tenaya Therapeutics from $18.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Morgan Stanley dropped their price target on Tenaya Therapeutics from $15.00 to $5.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Canaccord Genuity Group lowered their target price on Tenaya Therapeutics from $18.00 to $6.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Finally, HC Wainwright restated a "buy" rating and issued a $5.00 price objective on shares of Tenaya Therapeutics in a research report on Monday. Seven 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 price target of $6.25.

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Insider Activity

In other news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 19,621 shares of company stock valued at $10,595. Insiders own 32.76% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TNYA. Synovus Financial Corp acquired a new position in Tenaya Therapeutics in the 3rd quarter worth $28,000. Woodline Partners LP acquired a new position in shares of Tenaya Therapeutics during the fourth quarter worth about $28,000. Commerce Bank acquired a new position in shares of Tenaya Therapeutics during the fourth quarter worth about $29,000. Mariner LLC acquired a new stake in Tenaya Therapeutics in the 4th quarter valued at approximately $30,000. Finally, Ground Swell Capital LLC acquired a new position in Tenaya Therapeutics during the 4th quarter worth approximately $32,000. 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.