Tenaya Therapeutics (NASDAQ:TNYA) Issues Quarterly Earnings Results

by · The Markets Daily

Tenaya Therapeutics (NASDAQ:TNYA – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12), FiscalAI reports.

Tenaya Therapeutics Stock Up 4.0%

NASDAQ TNYA opened at $0.89 on Friday. The business has a 50 day moving average price of $0.73 and a 200-day moving average price of $1.12. Tenaya Therapeutics has a 52 week low of $0.36 and a 52 week high of $2.35. The company has a market cap of $146.20 million, a price-to-earnings ratio of -1.44 and a beta of 3.22.

Analyst Ratings Changes

TNYA has been the topic of several analyst reports. Morgan Stanley set a $2.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, January 8th. Lifesci Capital upgraded Tenaya Therapeutics to a “strong-buy” rating in a report on Thursday, March 5th. HC Wainwright cut their price objective on Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Chardan Capital reiterated a “buy” rating and set a $8.00 price objective on shares of Tenaya Therapeutics in a research report on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of Tenaya Therapeutics in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $4.00.

View Our Latest Analysis on TNYA

Insider Buying and Selling at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III sold 4,056,573 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $0.68, for a total transaction of $2,758,469.64. Following the completion of the transaction, the insider directly owned 2,348,183 shares of the company’s stock, valued at approximately $1,596,764.44. This represents a 63.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 8,594,047 shares of company stock worth $5,430,207. 48.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Scientech Research LLC bought a new position in shares of Tenaya Therapeutics in the 3rd quarter worth $27,000. Geode Capital Management LLC increased its position in shares of Tenaya Therapeutics by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,193,355 shares of the company’s stock valued at $849,000 after buying an additional 17,820 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Tenaya Therapeutics by 107.0% in the fourth quarter. Cetera Investment Advisers now owns 106,425 shares of the company’s stock valued at $76,000 after purchasing an additional 55,000 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Tenaya Therapeutics during the third quarter valued at about $99,000. Finally, Comerica Bank purchased a new position in Tenaya Therapeutics in the 1st quarter valued at about $50,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Tenaya Therapeutics Company Profile

(Get Free Report)

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.

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