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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) was the target of a significant increase in short interest during 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. Approximately 25.4% of the company’s stock are short sold. Based on an average daily volume of 4,350,000 shares, the days-to-cover ratio is presently 3.8 days.

Tenaya Therapeutics Stock Down 6.8 %

TNYA traded down $0.11 during trading hours on Friday, hitting $1.50. The stock had a trading volume of 3,417,790 shares, compared to its average volume of 1,486,769. The company’s fifty day simple moving average is $2.41 and its 200 day simple moving average is $2.61. Tenaya Therapeutics has a 1 year low of $0.99 and a 1 year high of $7.01. The stock has a market cap of $118.83 million, a PE ratio of -1.04 and a beta of 2.72.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its earnings results on Wednesday, November 6th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.07. As a group, equities analysts expect that Tenaya Therapeutics will post -1.35 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Tenaya Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Synovus Financial Corp purchased a new stake in shares of Tenaya Therapeutics in the third quarter worth about $28,000. SG Americas Securities LLC purchased a new stake in Tenaya Therapeutics in the 3rd quarter worth approximately $49,000. The Manufacturers Life Insurance Company boosted its holdings in Tenaya Therapeutics by 43.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,199 shares of the company’s stock valued at $72,000 after purchasing an additional 7,000 shares during the period. Algert Global LLC purchased a new position in shares of Tenaya Therapeutics during the 2nd quarter valued at $74,000. Finally, XTX Topco Ltd grew its position in shares of Tenaya Therapeutics by 51.2% during the 3rd quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock valued at $95,000 after purchasing an additional 16,687 shares in the last quarter. Hedge funds and other 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.