Tenaya Therapeutics (NASDAQ:TNYA) Earns "Buy" Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $18.00 price objective on the stock.

Several other analysts also recently weighed in on TNYA. Canaccord Genuity Group restated a "buy" rating and issued a $16.00 price objective 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. Leerink Partners reaffirmed an "outperform" rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $17.33.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA traded down $0.18 during trading on Wednesday, reaching $1.23. 11,136,666 shares of the company were exchanged, compared to its average volume of 1,384,329. The firm has a market capitalization of $97.44 million, a PE ratio of -0.85 and a beta of 2.72. The business's fifty day simple moving average is $2.44 and its 200-day simple moving average is $2.72. Tenaya Therapeutics has a 12-month low of $0.99 and a 12-month high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last released its quarterly earnings data 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, sell-side analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of large investors have recently added to or reduced their stakes in TNYA. abrdn plc bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter valued at about $1,063,000. Jacobs Levy Equity Management Inc. lifted its position in Tenaya Therapeutics by 204.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company's stock valued at $651,000 after acquiring an additional 226,466 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Tenaya Therapeutics by 144.1% in the second quarter. Renaissance Technologies LLC now owns 157,460 shares of the company's stock valued at $488,000 after acquiring an additional 92,960 shares in the last quarter. Wellington Management Group LLP boosted its stake in Tenaya Therapeutics by 35.6% in the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company's stock valued at $568,000 after acquiring an additional 77,235 shares in the last quarter. Finally, Integral Health Asset Management LLC grew its holdings in Tenaya Therapeutics by 3.3% in the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company's stock worth $7,208,000 after purchasing an additional 75,000 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

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.