Short Interest in Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Grows By 18.8%

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 16,690,000 shares, a growth of 18.8% from the November 30th total of 14,050,000 shares. Based on an average trading volume of 4,350,000 shares, the short-interest ratio is presently 3.8 days. Currently, 25.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Tenaya Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. abrdn plc bought a new stake in shares of Tenaya Therapeutics during the third quarter worth about $1,063,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Tenaya Therapeutics by 204.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock worth $651,000 after purchasing an additional 226,466 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 92,960 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Tenaya Therapeutics by 35.6% during the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock valued at $568,000 after buying an additional 77,235 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its holdings in Tenaya Therapeutics by 3.3% during the second quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after buying an additional 75,000 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TNYA has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” 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 objective on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Chardan Capital reiterated a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price target on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $17.33.

Tenaya Therapeutics Stock Down 6.8 %

Tenaya Therapeutics stock traded down $0.11 during trading hours on Friday, hitting $1.50. The stock had a trading volume of 3,417,790 shares, compared to its average volume of 1,486,769. The stock has a market cap of $118.83 million, a price-to-earnings ratio of -1.04 and a beta of 2.72. The business’s 50 day simple moving average is $2.41 and its 200-day simple moving average is $2.61. Tenaya Therapeutics has a one year low of $0.99 and a one year high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. Research analysts anticipate that Tenaya Therapeutics 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.