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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 13,120,000 shares, a growth of 150.4% from the October 31st total of 5,240,000 shares. Currently, 20.0% of the company's stock are sold short. Based on an average trading volume of 2,310,000 shares, the short-interest ratio is presently 5.7 days.

Analysts Set New Price Targets

TNYA has been the topic of several analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a report on Monday. Chardan Capital reduced their target price on Tenaya Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Piper Sandler restated an "overweight" rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Leerink Partners reissued an "outperform" rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.75.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA remained flat at $3.29 during midday trading on Thursday. 8,654,942 shares of the company traded hands, compared to its average volume of 1,011,309. Tenaya Therapeutics has a one year low of $1.61 and a one year high of $7.01. The company's fifty day simple moving average is $2.06 and its 200 day simple moving average is $2.84. The company has a market capitalization of $260.63 million, a price-to-earnings ratio of -2.28 and a beta of 2.34.

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

Institutional Trading of Tenaya Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Synovus Financial Corp acquired a new stake in shares of Tenaya Therapeutics during the 3rd quarter worth approximately $28,000. The Manufacturers Life Insurance Company grew its position in Tenaya Therapeutics by 43.2% during 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 purchased a new position in Tenaya Therapeutics in the second quarter valued at $74,000. SG Americas Securities LLC acquired a new position in shares of Tenaya Therapeutics in the third quarter worth about $49,000. 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 in the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.

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.