Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Sees Significant Growth in Short Interest

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 16,690,000 shares, a growth of 18.8% from the November 30th total of 14,050,000 shares. Currently, 25.4% of the shares of the company are sold short. Based on an average trading volume of 4,350,000 shares, the days-to-cover ratio is presently 3.8 days.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TNYA. Chardan Capital reaffirmed a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Canaccord Genuity Group restated a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Tenaya Therapeutics in a report on Wednesday, December 18th. Finally, Leerink Partners reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.33.

Tenaya Therapeutics Stock Down 3.3 %

Shares of NASDAQ TNYA opened at $1.45 on Tuesday. The stock’s 50-day simple moving average is $2.41 and its two-hundred day simple moving average is $2.60. Tenaya Therapeutics has a twelve month low of $0.99 and a twelve month high of $7.01. The firm has a market capitalization of $114.87 million, a P/E ratio of -1.01 and a beta of 2.72.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data 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. As a group, research analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

Institutional Trading of Tenaya Therapeutics

Hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp bought a new position in Tenaya Therapeutics in the third quarter valued at $28,000. The Manufacturers Life Insurance Company increased its position in shares of Tenaya Therapeutics by 43.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after purchasing an additional 7,000 shares during the last quarter. Algert Global LLC purchased a new position in shares of Tenaya Therapeutics during the 2nd quarter valued at about $74,000. SG Americas Securities LLC bought a new stake in Tenaya Therapeutics in the 3rd quarter worth approximately $49,000. Finally, XTX Topco Ltd boosted its stake in Tenaya Therapeutics by 51.2% in 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 in the last quarter. 90.54% of the stock is owned by institutional investors.

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.