Tenaya Therapeutics (TNYA) AI Stock Analysis

• Market Cap: $157.70M
• Dividend Yield: N/A
• Average Volume (3M): 4.00M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.81
• Revenue Growth: N/A
• EPS Growth: 46.68%
• Country: US
• Employees: 97
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.12
• Shares Outstanding: 216,505,890
• 10 Day Avg. Volume: 2,873,734
• 30 Day Avg. Volume: 4,003,933
• PEG Ratio: 0.05
• Price to Book (P/B): 1.31
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.33
• Enterprise Value/Market Cap: 1.39
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -55.68
• Enterprise Value/Ebitda: -2.53
• 1Y Price Target: $9.57
• Price Target Upside: 619.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $0.70 ▼(-47.59% Downside)

The score is held down primarily by weak financial performance (no revenue, large losses, and heavy cash burn with ongoing funding needs) and bearish technicals (price below key moving averages with negative MACD). A positive regulatory and clinical update provides some upside support, but it is not yet enough to offset the financial and trend risks.

Positive Factors

Regulatory Approval

The lifting of the FDA hold allows Tenaya to resume its MyPEAK-1 trial, potentially accelerating the development of TN-201, which is crucial for long-term growth and strategic positioning in the gene therapy market.

Clinical Trial Progress

Positive interim data from the RIDGE-1 trial enhances the credibility of Tenaya's pipeline, supporting its strategic focus on gene therapies for cardiac disorders and potentially attracting partnerships or funding.

Modest Leverage

Low leverage provides Tenaya with financial flexibility to navigate the capital-intensive biotech landscape, allowing it to focus on R&D and strategic collaborations without the immediate pressure of high debt obligations.

Negative Factors

Cash Burn

Significant cash burn indicates ongoing reliance on external funding, which could pose a risk to Tenaya's long-term sustainability if new capital or partnerships are not secured in a timely manner.

No Revenue

Lack of revenue generation highlights Tenaya's dependency on external funding and collaborations, which may challenge its ability to sustain operations and invest in R&D over the long term without successful product commercialization.

Shrinking Equity

The significant decline in equity reflects ongoing losses and value erosion, limiting Tenaya's financial flexibility and potentially impacting its ability to attract future investment or strategic partnerships.

Tenaya Therapeutics Business Overview & Revenue Model

Company Description

Tenaya Therapeutics (TNYA) is a biotechnology company focused on discovering, developing, and delivering curative therapies for heart disease. The company operates within the biopharmaceutical sector and is committed to advancing a pipeline of novel therapies aimed at addressing the underlying causes of various forms of heart disease through gene therapy, cellular regeneration, and precision medicine approaches.

How the Company Makes Money

Tenaya Therapeutics makes money primarily through the development and commercialization of its proprietary therapies for heart disease. Revenue streams include upfront payments, milestone payments, and royalties from partnerships and collaborations with larger pharmaceutical companies. Additionally, the company may generate income from licensing its technologies and intellectual property to other biotech firms. Tenaya also seeks to raise funds through equity financing, government grants, and research collaborations, which support ongoing research and development activities.

Tenaya Therapeutics Financial Statement Overview

Summary

Tenaya Therapeutics is in a pre-revenue stage common for biotech firms, with no revenue and high R&D expenses leading to consistent losses. The balance sheet is lightly leveraged, but equity has been decreasing due to accumulated deficits. The company relies heavily on external financing to manage negative cash flows.

Income Statement

Tenaya Therapeutics has consistently reported zero revenue, which is typical for early-stage biotech companies focused on R&D. The net profit margins are negative, driven by substantial R&D expenses and no offsetting revenue. This highlights the company's pre-revenue phase with ongoing losses.

Balance Sheet

The company's balance sheet shows a relatively low debt-to-equity ratio, indicating conservative leverage. However, the equity has been decreasing due to persistent losses. The equity ratio has diminished over time, reflecting a shrinking asset base compared to equity.

Cash Flow

The cash flow statement reveals negative free cash flow due to high operating expenses and capital expenditures. The operating cash flow has been consistently negative, indicating a reliance on external financing to sustain operations. Free cash flow growth is also negative, highlighting cash burn.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-3.95M	-8.47M	-8.69M	-8.71M	-4.03M	-2.48M
EBITDA	-87.05M	-102.66M	-115.40M	-114.95M	-68.70M	-35.91M
Net Income	-94.26M	-111.13M	-124.08M	-123.67M	-72.72M	-38.40M
Balance Sheet
Total Assets	104.98M	119.94M	170.51M	278.94M	316.65M	148.16M
Cash, Cash Equivalents and Short-Term Investments	56.31M	61.45M	104.64M	186.53M	251.30M	128.53M
Total Debt	11.53M	13.61M	12.42M	15.10M	15.70M	0.00
Total Liabilities	22.11M	27.09M	31.09M	35.57M	38.12M	8.72M
Stockholders Equity	82.87M	92.85M	139.42M	243.38M	278.53M	139.44M
Cash Flow
Free Cash Flow	-73.47M	-91.53M	-103.31M	-125.05M	-85.93M	-45.21M
Operating Cash Flow	-72.71M	-90.50M	-102.07M	-104.42M	-60.81M	-35.45M
Investing Cash Flow	70.25M	1.13M	48.72M	83.65M	-238.56M	-7.01M
Financing Cash Flow	50.54M	47.75M	4.05M	77.77M	208.97M	147.27M

Tenaya Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.33
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TNYA, the sentiment is Negative. The current price of 1.33 is above the 20-day moving average (MA) of 0.90, above the 50-day MA of 1.18, and above the 200-day MA of 0.95, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 33.80 is Neutral, neither overbought nor oversold. The STOCH value of 61.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TNYA.

Tenaya Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ABEO	60 Neutral	$282.88M	4.48	75.90%	―	―	―
CADL	56 Neutral	$290.96M	-9.47	-70.17%	―	―	68.53%
TECX	55 Neutral	$368.90M	-5.12	-32.21%	―	―	60.40%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VYGR	46 Neutral	$226.85M	-1.88	-46.09%	―	-80.88%	-388.61%
TNYA	44 Neutral	$157.70M	-0.92	-96.44%	―	―	46.68%
GALT	44 Neutral	$250.18M	-6.56	―	―	―	18.82%

Tenaya Therapeutics Corporate Events

Tenaya Therapeutics announces orderly board leadership transition

Tenaya Therapeutics announced that board member David Goeddel submitted his resignation from the company’s board of directors and all board committees on December 31, 2025, with the resignation to take effect on January 26, 2026, in connection with his retirement. The company emphasized that Goeddel’s departure was voluntary, not due to any disagreement over operations, policies or practices, and the board publicly thanked him for his service and contributions, signaling an orderly leadership transition rather than a governance dispute.

The most recent analyst rating on (TNYA) stock is a Hold with a $0.70 price target. To see the full list of analyst forecasts on Tenaya Therapeutics stock, see the TNYA Stock Forecast page.

Tenaya Therapeutics Announces Public Offering Pricing

On December 11, 2025, Tenaya Therapeutics announced the pricing of its public offering of 50 million units, expected to raise approximately $60 million. The proceeds will fund the development of clinical and early-stage product candidates, including TN-201 and TN-401, and support general corporate purposes. The offering is set to close on December 15, 2025, subject to customary conditions.

The most recent analyst rating on (TNYA) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Tenaya Therapeutics stock, see the TNYA Stock Forecast page.

FDA Lifts Hold on Tenaya’s MyPEAK-1 Trial

On December 11, 2025, Tenaya Therapeutics announced that the FDA lifted the clinical hold on its MyPEAK-1 trial for TN-201 gene therapy, following amendments to the study protocol. The company also shared interim data from its RIDGE-1 trial for TN-401, showing promising safety and efficacy results, with no dose-limiting toxicities and improvements in electrical instability in patients.

The most recent analyst rating on (TNYA) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Tenaya Therapeutics stock, see the TNYA Stock Forecast page.

FDA Places Hold on Tenaya’s MyPEAKTM-1 Trial

The FDA has placed a clinical hold on Tenaya Therapeutics‘ MyPEAKTM-1 trial for TN-201, a treatment for MYBPC3-associated hypertrophic cardiomyopathy, to standardize patient monitoring and immunosuppression management. Despite the hold, Tenaya expects no impact on TN-201’s data milestones or development timelines, as the drug has shown an acceptable safety profile and no new safety events have been reported.

The most recent analyst rating on (TNYA) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Tenaya Therapeutics stock, see the TNYA Stock Forecast page.