Research Analysts Offer Predictions for TNYA FY2024 Earnings

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Free Report) - Investment analysts at Lifesci Capital raised their FY2024 earnings per share (EPS) estimates for shares of Tenaya Therapeutics in a research report issued to clients and investors on Wednesday, November 6th. Lifesci Capital analyst C. Jubinville now anticipates that the company will post earnings per share of ($1.39) for the year, up from their previous estimate of ($1.48). The consensus estimate for Tenaya Therapeutics' current full-year earnings is ($1.40) per share. Lifesci Capital also issued estimates for Tenaya Therapeutics' Q4 2024 earnings at ($0.35) EPS.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.07.

Several other brokerages also recently commented on TNYA. Leerink Partners reiterated an "outperform" rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. HC Wainwright restated a "buy" rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Piper Sandler restated an "overweight" rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Chardan Capital lowered their price objective on Tenaya Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group restated a "buy" rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $14.75.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA traded down $0.19 during mid-day trading on Monday, hitting $2.57. 6,093,492 shares of the company traded hands, compared to its average volume of 773,638. The firm has a market cap of $202.74 million, a P/E ratio of -1.78 and a beta of 2.34. Tenaya Therapeutics has a 52-week low of $1.61 and a 52-week high of $7.01. The firm's 50 day simple moving average is $2.04 and its 200 day simple moving average is $3.01.

Institutional Trading of Tenaya Therapeutics

Several hedge funds have recently made changes to their positions in TNYA. abrdn plc bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth approximately $1,063,000. Vanguard Group Inc. lifted its holdings in shares of Tenaya Therapeutics by 16.4% in the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company's stock worth $14,973,000 after purchasing an additional 403,472 shares during the last quarter. RA Capital Management L.P. lifted its holdings in shares of Tenaya Therapeutics by 4.5% in the 1st quarter. RA Capital Management L.P. now owns 5,755,050 shares of the company's stock worth $30,099,000 after purchasing an additional 247,703 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Tenaya Therapeutics by 144.1% in the 2nd quarter. Renaissance Technologies LLC now owns 157,460 shares of the company's stock worth $488,000 after purchasing an additional 92,960 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Tenaya Therapeutics by 90.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company's stock worth $882,000 after purchasing an additional 80,212 shares during the last quarter. Institutional investors own 90.54% of the company's stock.

Insider Transactions at Tenaya Therapeutics

In other news, CEO Faraz Ali sold 9,748 shares of Tenaya Therapeutics stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the completion of the transaction, the chief executive officer now owns 188,331 shares in the company, valued at approximately $544,276.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 19,539 shares of company stock worth $56,468. 32.76% of the stock is currently owned by corporate insiders.

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.