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

Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) have been given a consensus rating of “Buy” by the six brokerages that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.33.

A number of research analysts have weighed in on TNYA shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Tenaya Therapeutics in a report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research note on Monday. Chardan Capital reissued a “buy” rating and set a $18.00 target price on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Finally, Piper Sandler reissued an “overweight” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th.

Tenaya Therapeutics Stock Performance

TNYA opened at $1.00 on Friday. Tenaya Therapeutics has a fifty-two week low of $0.99 and a fifty-two week high of $7.01. The company has a fifty day moving average of $1.84 and a two-hundred day moving average of $2.23. The stock has a market capitalization of $79.22 million, a price-to-earnings ratio of -0.69 and a beta of 2.84.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.07. On average, equities research analysts forecast that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. abrdn plc boosted its position in Tenaya Therapeutics by 9.1% during the fourth quarter. abrdn plc now owns 600,700 shares of the company’s stock worth $859,000 after acquiring an additional 50,000 shares during the last quarter. Spire Wealth Management acquired a new position in Tenaya Therapeutics during the fourth quarter worth about $53,000. Atticus Wealth Management LLC boosted its position in Tenaya Therapeutics by 56.3% during the fourth quarter. Atticus Wealth Management LLC now owns 47,762 shares of the company’s stock worth $68,000 after acquiring an additional 17,199 shares during the last quarter. SG Americas Securities LLC boosted its position in Tenaya Therapeutics by 61.9% during the fourth quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock worth $59,000 after acquiring an additional 15,777 shares during the last quarter. Finally, Synovus Financial Corp acquired a new position in Tenaya Therapeutics during the third quarter worth about $28,000. 90.54% of the stock is currently 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.