Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Given Consensus Rating of “Buy” by Brokerages

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) has earned an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.25.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research report on Monday, July 8th.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA opened at $1.77 on Friday. The company has a 50 day moving average price of $2.34 and a two-hundred day moving average price of $3.41. The company has a market capitalization of $138.98 million, a PE ratio of -1.08 and a beta of 2.35. Tenaya Therapeutics has a 52 week low of $1.61 and a 52 week high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06. On average, sell-side analysts forecast that Tenaya Therapeutics will post -1.52 earnings per share for the current year.

Insider Buying and Selling at Tenaya Therapeutics

In other news, CEO Faraz Ali sold 9,748 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.89, for a total transaction of $28,171.72. Following the completion of the transaction, the chief executive officer now directly owns 188,331 shares of the company’s stock, valued at $544,276.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 19,539 shares of company stock valued at $56,468 in the last 90 days. 32.76% of the stock is currently owned by company insiders.

Institutional Trading of Tenaya Therapeutics

A number of institutional investors have recently made changes to their positions in TNYA. The Manufacturers Life Insurance Company increased its stake in Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after buying an additional 7,000 shares during the last quarter. Rhumbline Advisers increased its position in shares of Tenaya Therapeutics by 10.5% in the second quarter. Rhumbline Advisers now owns 78,160 shares of the company’s stock valued at $242,000 after acquiring an additional 7,441 shares during the last quarter. American Century Companies Inc. raised its holdings in Tenaya Therapeutics by 27.7% during the second quarter. American Century Companies Inc. now owns 102,114 shares of the company’s stock worth $317,000 after acquiring an additional 22,146 shares in the last quarter. Algert Global LLC acquired a new position in Tenaya Therapeutics during the second quarter valued at approximately $74,000. Finally, SG Americas Securities LLC bought a new position in Tenaya Therapeutics in the third quarter valued at approximately $49,000. 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.