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

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $18.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 447.11% from the stock’s previous close.

Other research analysts have also issued reports about the company. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th. Chardan Capital lowered their price target on Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Piper Sandler restated an “overweight” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Finally, Leerink Partners restated an “outperform” rating on shares of Tenaya Therapeutics in a report on Friday, October 18th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $14.75.

Tenaya Therapeutics Price Performance

Shares of NASDAQ:TNYA opened at $3.29 on Monday. The firm’s 50 day simple moving average is $2.04 and its 200 day simple moving average is $2.85. Tenaya Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $7.01. The company has a market capitalization of $260.63 million, a price-to-earnings ratio of -2.28 and a beta of 2.34.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.07. Equities research analysts expect that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Synovus Financial Corp acquired a new position in shares of Tenaya Therapeutics during the third quarter worth about $28,000. Geode Capital Management LLC boosted its position in shares of Tenaya Therapeutics by 5.4% during the third quarter. Geode Capital Management LLC now owns 1,296,156 shares of the company’s stock worth $2,502,000 after buying an additional 66,968 shares during the period. XTX Topco Ltd boosted its position in shares of Tenaya Therapeutics by 51.2% during the third quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock worth $95,000 after buying an additional 16,687 shares during the period. Wellington Management Group LLP boosted its position in shares of Tenaya Therapeutics by 35.6% during the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock worth $568,000 after buying an additional 77,235 shares during the period. Finally, State Street Corp boosted its position in shares of Tenaya Therapeutics by 0.9% during the third 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. 90.54% of the stock is owned by institutional investors and hedge funds.

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.