HC Wainwright Reiterates Buy Rating for Tenaya Therapeutics (NASDAQ:TNYA)

HC Wainwright reaffirmed their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA - Free Report) in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $18.00 price target on the stock.

Several other analysts have also recently commented on the stock. Chardan Capital restated a "buy" rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Leerink Partners reaffirmed an "outperform" 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 price objective on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $17.33.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA traded down $0.07 during mid-day trading on Tuesday, hitting $1.43. The stock had a trading volume of 1,814,199 shares, compared to its average volume of 2,423,049. The company's 50 day moving average is $2.28 and its 200-day moving average is $2.46. Tenaya Therapeutics has a 12-month low of $0.99 and a 12-month high of $7.01. The company has a market cap of $113.29 million, a PE ratio of -0.99 and a beta of 2.89.

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

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Synovus Financial Corp bought a new position in Tenaya Therapeutics in the 3rd quarter worth $28,000. Geode Capital Management LLC increased its stake in shares of Tenaya Therapeutics by 5.4% in the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company's stock worth $2,502,000 after purchasing an additional 66,968 shares during the period. XTX Topco Ltd lifted its position 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 purchasing an additional 16,687 shares during the last quarter. Wellington Management Group LLP boosted its stake in Tenaya Therapeutics by 35.6% during the 3rd quarter. Wellington Management Group LLP now owns 294,133 shares of the company's stock valued at $568,000 after purchasing an additional 77,235 shares during the period. Finally, State Street Corp grew its holdings in Tenaya Therapeutics by 0.9% in the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company's stock valued at $2,044,000 after buying an additional 9,506 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.