HC Wainwright Reaffirms “Buy” Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $18.00 price objective on the stock.

Other analysts have also issued research reports about the company. Piper Sandler reaffirmed an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price target on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $17.33.

Tenaya Therapeutics Price Performance

Shares of Tenaya Therapeutics stock opened at $1.47 on Tuesday. Tenaya Therapeutics has a 52-week low of $0.99 and a 52-week high of $7.01. The company’s fifty day moving average price is $2.28 and its two-hundred day moving average price is $2.46.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly 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. As a group, research analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Synovus Financial Corp acquired a new position in shares of Tenaya Therapeutics during the third quarter worth approximately $28,000. Geode Capital Management LLC lifted its holdings in Tenaya Therapeutics by 5.4% during the 3rd 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 in the last quarter. XTX Topco Ltd boosted its position in Tenaya Therapeutics by 51.2% in the 3rd quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock valued at $95,000 after buying an additional 16,687 shares during the last quarter. Wellington Management Group LLP boosted its position in Tenaya Therapeutics by 35.6% in the 3rd 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, State Street Corp increased its stake in shares of Tenaya Therapeutics by 0.9% in the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after buying an additional 9,506 shares during the period. Institutional investors own 90.54% of the company’s stock.

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.