HC Wainwright Cuts Tenaya Therapeutics (NASDAQ:TNYA) Price Target to $5.00

Tenaya Therapeutics (NASDAQ:TNYA) had its target price reduced by HC Wainwright from $18.00 to $5.00 in a research report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Tenaya Therapeutics’ Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.15) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.59) EPS, FY2026 earnings at ($0.56) EPS, FY2027 earnings at ($0.51) EPS and FY2028 earnings at ($0.58) EPS.

Separately, Chardan Capital reaffirmed a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tenaya Therapeutics has an average rating of “Buy” and a consensus target price of $6.25.

Tenaya Therapeutics Price Performance

Tenaya Therapeutics stock opened at $0.67 on Tuesday. The stock has a market cap of $53.09 million, a P/E ratio of -0.47 and a beta of 2.83. Tenaya Therapeutics has a 1 year low of $0.39 and a 1 year high of $5.39. The firm’s 50 day moving average price is $1.08 and its 200-day moving average price is $1.84.

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

Insider Activity at Tenaya Therapeutics

In other news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of Tenaya Therapeutics stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $0.70 per share, with a total value of $24,999,998.80. Following the completion of the purchase, the insider now owns 49,313,559 shares in the company, valued at $34,519,491.30. The trade was a 262.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 19,621 shares of company stock valued at $10,595 over the last 90 days. 32.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TNYA. FMR LLC raised its stake in shares of Tenaya Therapeutics by 1.9% in the third quarter. FMR LLC now owns 1,345,938 shares of the company’s stock valued at $2,598,000 after acquiring an additional 25,503 shares during the period. Walleye Capital LLC purchased a new stake in shares of Tenaya Therapeutics in the third quarter valued at $134,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Tenaya Therapeutics by 204.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 337,265 shares of the company’s stock valued at $651,000 after acquiring an additional 226,466 shares during the period. State Street Corp raised its stake in shares of Tenaya Therapeutics by 0.9% in the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after acquiring an additional 9,506 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Tenaya Therapeutics by 35.6% in the third quarter. Wellington Management Group LLP now owns 294,133 shares of the company’s stock valued at $568,000 after acquiring an additional 77,235 shares during the period. Hedge funds and other institutional investors 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.