Michael Ulz, an analyst from Morgan Stanley, maintained the Buy rating on Tenaya Therapeutics (TNYA – Research Report). The associated price target remains the same with $5.00.
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Michael Ulz has given his Buy rating due to a combination of factors influencing Tenaya Therapeutics. The company is making significant progress with its gene therapy programs, particularly TN-201 and TN-401, which are on track for data updates in the second half of 2025. These updates are anticipated to provide further insights into the therapies’ effectiveness and safety, which are crucial for advancing their clinical development.
Additionally, Tenaya’s recent studies have highlighted a substantial unmet need in conditions like PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC), reinforcing the potential impact of their therapies. The company’s financial position, with $88.2 million in cash at the end of the first quarter of 2025, is expected to support ongoing operations, providing a stable foundation for continued research and development. These factors collectively contribute to the positive outlook and the Buy rating assigned by Michael Ulz.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TNYA in relation to earlier this year.