RA Capital Management L.P. Sells 639,760 Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

RA Capital Management L.P. decreased its position in Tenaya Therapeutics, Inc. (NASDAQ:TNYA) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 6,982,587 shares of the company’s stock after selling 639,760 shares during the quarter. RA Capital Management L.P. owned approximately 0.09% of Tenaya Therapeutics worth $13,476,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TNYA. SG Americas Securities LLC bought a new position in Tenaya Therapeutics during the 3rd quarter valued at about $49,000. The Manufacturers Life Insurance Company lifted its stake in Tenaya Therapeutics by 43.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after acquiring an additional 7,000 shares during the period. Algert Global LLC bought a new position in Tenaya Therapeutics during the 2nd quarter valued at about $74,000. Walleye Capital LLC bought a new position in Tenaya Therapeutics during the 3rd quarter valued at about $134,000. Finally, Panagora Asset Management Inc. bought a new position in Tenaya Therapeutics during the 2nd quarter valued at about $164,000. Institutional investors own 90.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research note on Monday, November 25th. Chardan Capital lowered their target price on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $17.33.

Tenaya Therapeutics Stock Down 1.2 %

NASDAQ TNYA opened at $3.42 on Thursday. Tenaya Therapeutics, Inc. has a 52 week low of $1.61 and a 52 week high of $7.01. The company has a 50-day moving average price of $2.20 and a 200-day moving average price of $2.81.

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

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.