Canaccord Genuity Group Reaffirms “Buy” Rating for Tenaya Therapeutics (NASDAQ:TNYA)

Canaccord Genuity Group reissued their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA) in a research note published on Friday, Benzinga reports. They currently have a $16.00 price objective on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research report on Friday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $15.25.

Tenaya Therapeutics Trading Down 5.1 %

Tenaya Therapeutics stock opened at $2.04 on Friday. Tenaya Therapeutics has a 1-year low of $1.61 and a 1-year high of $7.01. The firm has a market capitalization of $160.18 million, a price-to-earnings ratio of -1.24 and a beta of 2.35. The firm has a 50 day simple moving average of $2.27 and a 200 day simple moving average of $3.29.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06. On average, equities research analysts forecast that Tenaya Therapeutics will post -1.52 EPS for the current year.

Insider Buying and Selling

In related news, CEO Faraz Ali sold 9,748 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.89, for a total value of $28,171.72. Following the transaction, the chief executive officer now owns 188,331 shares of the company’s stock, valued at $544,276.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 19,539 shares of company stock worth $56,468. Corporate insiders own 32.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of Tenaya Therapeutics in the 3rd quarter worth approximately $49,000. Algert Global LLC bought a new stake in shares of Tenaya Therapeutics in the 2nd quarter worth approximately $74,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock worth $72,000 after acquiring an additional 7,000 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Tenaya Therapeutics by 86.0% in the 2nd quarter. Squarepoint Ops LLC now owns 120,704 shares of the company’s stock worth $374,000 after acquiring an additional 55,816 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its holdings in shares of Tenaya Therapeutics by 3.3% in the 2nd quarter. Integral Health Asset Management LLC now owns 2,325,000 shares of the company’s stock worth $7,208,000 after acquiring an additional 75,000 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

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.