Tenaya Therapeutics (NASDAQ:TNYA) Given Buy Rating at HC Wainwright

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $5.00 price target on the stock.

TNYA has been the subject of several other research reports. Morgan Stanley dropped their price target on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Canaccord Genuity Group reduced their price target on Tenaya Therapeutics from $18.00 to $6.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Finally, Chardan Capital decreased 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 note on Wednesday, March 12th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $6.25.

Tenaya Therapeutics Stock Down 3.8 %

TNYA stock traded down $0.02 during trading on Monday, hitting $0.50. 1,008,790 shares of the company's stock traded hands, compared to its average volume of 2,184,526. The business has a fifty day simple moving average of $0.84 and a two-hundred day simple moving average of $1.65. The firm has a market capitalization of $43.79 million, a P/E ratio of -0.35 and a beta of 2.83. Tenaya Therapeutics has a 1 year low of $0.39 and a 1 year high of $5.10.

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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) earnings per share for the quarter, beating analysts' consensus estimates of ($0.32) by $0.04. On average, equities research analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 19,621 shares of company stock valued at $10,595 in the last 90 days. 32.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of large investors have recently added to or reduced their stakes in TNYA. Jacobs Levy Equity Management Inc. lifted its position in shares of 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 buying an additional 226,466 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Tenaya Therapeutics by 61.9% during the 4th quarter. SG Americas Securities LLC now owns 41,270 shares of the company's stock valued at $59,000 after buying an additional 15,777 shares during the period. State Street Corp raised its holdings 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 acquiring an additional 9,506 shares in the last quarter. Spire Wealth Management bought a new position in Tenaya Therapeutics in the fourth quarter worth about $53,000. Finally, Geode Capital Management LLC boosted its position 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 buying an additional 66,968 shares during the period. 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.