Tenaya Therapeutics (NASDAQ:TNYA) Given Buy Rating at HC Wainwright

Tenaya Therapeutics (NASDAQ:TNYA)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $5.00 price target on the stock.

Several other research analysts have also recently weighed in on TNYA. Morgan Stanley lowered their target price on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Canaccord Genuity Group lowered their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Chardan Capital cut their target price on Tenaya Therapeutics from $18.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $6.25.

Tenaya Therapeutics Price Performance

NASDAQ TNYA traded down $0.03 during mid-day trading on Monday, hitting $0.61. The stock had a trading volume of 1,154,034 shares, compared to its average volume of 3,263,058. Tenaya Therapeutics has a twelve month low of $0.39 and a twelve month high of $5.25. The firm’s 50 day moving average is $0.90 and its 200 day moving average is $1.68. The stock has a market capitalization of $53.60 million, a price-to-earnings ratio of -0.43 and a beta of 2.83.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.04. As a group, equities research analysts expect that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Group Gp Lp Column III purchased 35,714,284 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the transaction, the insider now directly owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. The trade was a 262.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders sold 19,621 shares of company stock worth $10,595. Company insiders own 32.76% of the company’s stock.

Institutional Trading of Tenaya Therapeutics

Several institutional investors have recently added to or reduced their stakes in TNYA. Synovus Financial Corp acquired a new position in Tenaya Therapeutics during the third quarter worth $28,000. Woodline Partners LP acquired a new position in Tenaya Therapeutics during the 4th quarter worth about $28,000. Commerce Bank purchased a new position in Tenaya Therapeutics during the 4th quarter valued at about $29,000. Mariner LLC acquired a new position in Tenaya Therapeutics in the 4th quarter valued at about $30,000. Finally, Ground Swell Capital LLC purchased a new stake in Tenaya Therapeutics during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

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.