Tenaya Therapeutics (TNYA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright remains neutral on the stock and has a $18.00 price target.
Joseph Pantginis has given a Buy rating to Tenaya Therapeutics based on a number of factors. First and foremost, Pantginis highlights the FDA’s approval of Tenaya’s IND application for TN-401, an AAV9-based gene therapy aimed at treating arrhythmogenic right ventricular cardiomyopathy (ARVC). The clearance by the FDA to initiate clinical testing is seen as a significant step forward. Additionally, Tenaya’s plans to commence the RIDGE-1 Phase 1b trial, which will focus on assessing TN-401’s safety and clinical effectiveness in PKP2-associated ARVC patients, also contributed to Pantginis’s favorable rating.
Furthermore, the report emphasizes that Tenaya has produced enough cGMP grade TN-401 to fully support and complete the entire study. Pantginis also mentions the robust preclinical data backing TN-401’s potential efficacy in ARVC. Moreover, he takes note of the promising updates surrounding Tenaya’s other leading assets, TN-301 and TN-201. The data from these assets provides insight into their dosing, safety, and target engagement, which has also factored into Pantginis’s positive rating for Tenaya Therapeutics.
In another report released on October 17, Piper Sandler also assigned a Buy rating to the stock with a $40.00 price target.
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Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TNYA in relation to earlier this year.
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Tenaya Therapeutics (TNYA) Company Description:
Tenaya Therapeutics Inc is a preclinical stage biotechnology company focused on discovering, developing, and delivering curative therapies that address the underlying drivers of heart disease. It is advancing product candidates from three product platforms: gene therapy, cellular regeneration, and precision medicine.
Read More on TNYA:
- Tenaya Therapeutics Announces FDA Clearance to Begin Clinical Testing of TN-401 Gene Therapy for the Treatment of PKP2-Associated Arrhythmogenic Right Ventricular Cardiomyopathy
- Tenaya Therapeutics management to meet virtually with Piper Sandler
- Tenaya Therapeutics presents clinical, preclinical data on TN-301 program
- Tenaya Therapeutics Presents Encouraging New Clinical and Preclinical Data from HDAC6 Inhibitor Program TN-301 for the Potential Treatment of Heart Failure with Preserved Ejection Fraction at the 2023 HFSA Annual Scientific Meeting
- Tenaya Therapeutics doses first patient in MyPeak-1 Phase 1b trial of TN-201
