Tenaya Therapeutics (NASDAQ:TNYA) Posts Earnings Results

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

Tenaya Therapeutics Trading Up 11.1 %

TNYA stock traded up $0.05 during midday trading on Monday, reaching $0.51. 17,056,070 shares of the company’s stock traded hands, compared to its average volume of 1,929,308. The stock’s 50-day moving average is $1.14 and its 200 day moving average is $1.88. The stock has a market cap of $40.06 million, a P/E 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 related news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the transaction, the insider now directly owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. This represents a 262.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 32.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a research note on Monday, February 3rd. Chardan Capital reiterated a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently 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.