Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Short Interest Up 150.4% in November

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 13,120,000 shares, a growth of 150.4% from the October 31st total of 5,240,000 shares. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is currently 5.7 days. Currently, 20.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TNYA. abrdn plc bought a new stake in shares of Tenaya Therapeutics in the third quarter valued at approximately $1,063,000. Vanguard Group Inc. boosted its holdings in Tenaya Therapeutics by 16.4% in the 1st quarter. Vanguard Group Inc. now owns 2,862,916 shares of the company’s stock valued at $14,973,000 after purchasing an additional 403,472 shares during the period. American Century Companies Inc. grew its position in Tenaya Therapeutics by 27.7% in the 2nd quarter. American Century Companies Inc. now owns 102,114 shares of the company’s stock worth $317,000 after purchasing an additional 22,146 shares during the last quarter. Integral Health Asset Management LLC increased its holdings in shares of Tenaya Therapeutics by 3.3% during the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after purchasing an additional 75,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tenaya Therapeutics by 42.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 102,026 shares of the company’s stock worth $316,000 after purchasing an additional 30,446 shares during the period. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Tenaya Therapeutics Stock Up 8.5 %

Shares of TNYA traded up $0.28 during mid-day trading on Friday, hitting $3.57. 4,624,728 shares of the company’s stock were exchanged, compared to its average volume of 1,027,089. The stock has a market cap of $282.82 million, a price-to-earnings ratio of -2.48 and a beta of 2.34. Tenaya Therapeutics has a twelve month low of $1.61 and a twelve month high of $7.01. The firm has a fifty day moving average of $2.11 and a two-hundred day moving average of $2.85.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.07. On average, equities analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on TNYA. Chardan Capital dropped their target price on shares of Tenaya Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Leerink Partners reiterated an “outperform” rating on shares of Tenaya Therapeutics in a research report on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a report on Monday, November 25th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $14.75.

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.