Tenaya Therapeutics (NASDAQ:TNYA) Receives “Buy” Rating from HC Wainwright

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $5.00 target price on the stock.

A number of other equities research analysts have also commented on the company. Canaccord Genuity Group dropped their target price on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley cut their price objective on shares of Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Chardan Capital decreased their target price on shares of Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.25.

Tenaya Therapeutics Trading Down 4.7 %

Shares of NASDAQ:TNYA traded down $0.03 on Monday, hitting $0.61. 1,154,034 shares of the company were exchanged, compared to its average volume of 3,263,058. The firm has a market capitalization of $53.60 million, a P/E ratio of -0.43 and a beta of 2.83. Tenaya Therapeutics has a 1-year low of $0.39 and a 1-year high of $5.25. The stock’s 50 day moving average price is $0.90 and its 200 day moving average price is $1.68.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. On average, equities analysts predict that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $0.70 per share, for a total transaction of $24,999,998.80. Following the purchase, the insider now directly owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. This trade represents a 262.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 19,621 shares of company stock valued at $10,595. Corporate insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Several institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Tenaya Therapeutics by 0.9% during the 3rd quarter. State Street Corp now owns 1,058,898 shares of the company’s stock worth $2,044,000 after buying an additional 9,506 shares during the period. Synovus Financial Corp acquired a new position in Tenaya Therapeutics during the third quarter worth $28,000. SG Americas Securities LLC lifted its holdings in Tenaya Therapeutics by 61.9% during the fourth quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock valued at $59,000 after purchasing an additional 15,777 shares in the last quarter. XTX Topco Ltd lifted its holdings in Tenaya Therapeutics by 51.2% during the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock valued at $95,000 after purchasing an additional 16,687 shares in the last quarter. Finally, Atticus Wealth Management LLC grew its position in shares of Tenaya Therapeutics by 56.3% in the fourth quarter. Atticus Wealth Management LLC now owns 47,762 shares of the company’s stock valued at $68,000 after purchasing an additional 17,199 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

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.