Tenaya Therapeutics (NASDAQ:TNYA) Posts Earnings Results, Beats Expectations By $0.04 EPS

Tenaya Therapeutics (NASDAQ:TNYA) announced its quarterly earnings results on Monday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04, Zacks reports.

Tenaya Therapeutics Stock Up 11.1 %

Shares of Tenaya Therapeutics stock traded up $0.05 during trading on Monday, reaching $0.51. The company’s stock had a trading volume of 16,832,961 shares, compared to its average volume of 1,929,234. The firm’s 50-day moving average is $1.14 and its two-hundred day moving average is $1.88. The company has a market cap of $40.06 million, a price-to-earnings ratio of -0.35 and a beta of 2.83. Tenaya Therapeutics has a 52-week low of $0.39 and a 52-week high of $6.47.

Insider Activity

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of Tenaya Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $0.70 per share, for a total transaction of $24,999,998.80. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 32.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Chardan Capital reiterated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Tenaya Therapeutics has an average rating of “Buy” and an average target price of $17.33.

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.