Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Up 18.8% in December

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

Analyst Ratings Changes

A number of analysts have weighed in on TNYA shares. Leerink Partners reissued an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Canaccord Genuity Group restated a “buy” rating and issued a $16.00 target price on shares of Tenaya Therapeutics in a report on Friday, October 18th. Chardan Capital reaffirmed a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tenaya Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $17.33.

Institutional Trading of Tenaya Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. increased its stake in Tenaya Therapeutics by 204.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock valued at $651,000 after purchasing an additional 226,466 shares in the last quarter. abrdn plc acquired a new position in shares of Tenaya Therapeutics during the third quarter valued at about $1,063,000. FMR LLC grew its holdings in shares of Tenaya Therapeutics by 1.9% during the third quarter. FMR LLC now owns 1,345,938 shares of the company’s stock valued at $2,598,000 after buying an additional 25,503 shares during the last quarter. XTX Topco Ltd increased 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 acquiring an additional 16,687 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Tenaya Therapeutics by 35.6% in the 3rd quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock worth $568,000 after acquiring an additional 77,235 shares during the last quarter. 90.54% of the stock is owned by institutional investors.

Tenaya Therapeutics Stock Down 3.3 %

NASDAQ:TNYA opened at $1.45 on Tuesday. Tenaya Therapeutics has a twelve month low of $0.99 and a twelve month high of $7.01. The company has a fifty day moving average of $2.41 and a 200-day moving average of $2.60. 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 results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.07. On average, analysts anticipate that Tenaya Therapeutics will post -1.35 EPS for the current fiscal year.

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.