Tenaya Therapeutics (NASDAQ:TNYA) Price Target Cut to $9.00 by Analysts at Chardan Capital

Tenaya Therapeutics (NASDAQ:TNYA) had its price objective lowered by investment analysts at Chardan Capital from $18.00 to $9.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Separately, HC Wainwright reduced their price target on shares of Tenaya Therapeutics from $18.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $10.00.

Tenaya Therapeutics Stock Up 6.8 %

Shares of NASDAQ:TNYA opened at $0.54 on Wednesday. The business has a fifty day simple moving average of $1.11 and a 200 day simple moving average of $1.85. Tenaya Therapeutics has a 12-month low of $0.39 and a 12-month high of $5.73. The firm has a market cap of $42.78 million, a P/E ratio of -0.38 and a beta of 2.83.

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

Insiders Place Their Bets

In related news, major shareholder Group Gp Lp Column III acquired 35,714,284 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average cost of $0.70 per share, for a total transaction of $24,999,998.80. Following the purchase, the insider now 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 filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 19,621 shares of company stock valued at $10,595. Corporate insiders own 32.76% of the company’s stock.

Hedge Funds Weigh In On Tenaya Therapeutics

Several hedge funds have recently modified their holdings of TNYA. Synovus Financial Corp bought a new position in Tenaya Therapeutics in the 3rd quarter valued at $28,000. Woodline Partners LP purchased a new position in shares of Tenaya Therapeutics in the 4th quarter worth about $28,000. Commerce Bank bought a new position in Tenaya Therapeutics during the fourth quarter valued at about $29,000. Mariner LLC purchased a new stake in Tenaya Therapeutics during the fourth quarter worth 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 own 90.54% of the company’s stock.

Tenaya Therapeutics Company Profile

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.