Tenaya Therapeutics (NASDAQ:TNYA) Given New $18.00 Price Target at Chardan Capital

Tenaya Therapeutics (NASDAQ:TNYA) had its price objective reduced by Chardan Capital from $20.00 to $18.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

TNYA has been the subject of a number of other research reports. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tenaya Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $14.75.

Tenaya Therapeutics Price Performance

TNYA stock opened at $2.76 on Thursday. The business’s 50-day simple moving average is $2.05 and its 200 day simple moving average is $3.03. Tenaya Therapeutics has a twelve month low of $1.61 and a twelve month high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06. As a group, equities research analysts expect that Tenaya Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Transactions at Tenaya Therapeutics

In other news, CEO Faraz Ali sold 9,748 shares of Tenaya Therapeutics stock in a transaction on Friday, August 16th. The shares were sold at an average price of $2.89, for a total transaction of $28,171.72. Following the transaction, the chief executive officer now owns 188,331 shares in the company, valued at $544,276.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 19,539 shares of company stock valued at $56,468. Insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Tenaya Therapeutics during the 3rd quarter valued at $49,000. The Manufacturers Life Insurance Company lifted its stake in Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after purchasing an additional 7,000 shares in the last quarter. Algert Global LLC acquired a new position in shares of Tenaya Therapeutics in the 2nd quarter valued at $74,000. Panagora Asset Management Inc. purchased a new position in shares of Tenaya Therapeutics in the second quarter valued at approximately $164,000. Finally, Rhumbline Advisers grew its stake in shares of Tenaya Therapeutics by 10.5% during the second quarter. Rhumbline Advisers now owns 78,160 shares of the company’s stock worth $242,000 after purchasing an additional 7,441 shares in the last quarter. 90.54% of the stock is owned by hedge funds and other 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.