Tenaya Therapeutics (NASDAQ:TNYA) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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

Tenaya Therapeutics Stock Up 11.1 %

Shares of NASDAQ TNYA traded up $0.05 during trading on Monday, reaching $0.51. The company had a trading volume of 16,832,961 shares, compared to its average volume of 1,929,234. Tenaya Therapeutics has a 12-month low of $0.39 and a 12-month high of $6.47. The business’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 PE ratio of -0.35 and a beta of 2.83.

Insider Buying and Selling at Tenaya Therapeutics

In other Tenaya Therapeutics news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the completion of the transaction, the insider now directly owns 49,313,559 shares of the company’s stock, valued at approximately $34,519,491.30. This represents a 262.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TNYA. Chardan Capital reissued a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Tenaya Therapeutics in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tenaya Therapeutics presently has an average rating of “Buy” and an average price target 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.