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Tenaya Therapeutics
(NASDAQ:TNYA)
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Rating:44Neutral
Price Target:
$0.85
▼(-35.86% Downside)
Action:Reiterated
Date:06/30/26
The score is primarily held down by weak financial performance (minimal revenue, large losses, and persistent cash burn) despite low leverage and positive equity. Technicals are also soft with price below key moving averages and negative MACD. Corporate events are a mild positive (new CFO) but are partly offset by dilution risk from the expanded equity plan, while valuation provides limited support due to ongoing losses and no dividend data.
Positive Factors
Low leverage & positive equity
A low debt-to-equity ratio and meaningful positive equity provide balance-sheet flexibility for a clinical-stage biotech. This reduces refinancing pressure, supports continued R&D spending and potential partnering or milestone-driven funding without immediate solvency concerns.
Negative Factors
High cash burn
Sustained negative operating and free cash flow indicates reliance on external capital to fund ongoing trials. Continued burn without material revenue or large milestone inflows accelerates asset depletion and raises funding and dilution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage & positive equity
A low debt-to-equity ratio and meaningful positive equity provide balance-sheet flexibility for a clinical-stage biotech. This reduces refinancing pressure, supports continued R&D spending and potential partnering or milestone-driven funding without immediate solvency concerns.
Read all positive factors
Tenaya Therapeutics (TNYA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$190.94M
Dividend YieldN/A
Average Volume (3M)4.00M
Price to Earnings (P/E)―
Beta (1Y)2.84
Revenue GrowthN/A
EPS Growth59.42%
CountryUS
Employees70
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.47
Shares Outstanding216,998,870
10 Day Avg. Volume2,873,734
30 Day Avg. Volume4,003,933
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.88
Price to Sales (P/S)0.00
P/FCF Ratio-1.58
Enterprise Value/Market Cap0.25
Enterprise Value/Revenue212.30
Enterprise Value/Gross Profit146.53
Enterprise Value/Ebitda-0.63
Forecast
1Y Price Target
$10.33Price Target Upside676.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.4
Revenue Forecast (FY)$10.21M
Tenaya Therapeutics Business Overview & Revenue Model
Company Description
Tenaya Therapeutics, Inc., a clinical-stage biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. Its lead product candidate includes TN-201, a gene therapy for myosin binding protein C3-associa...
How the Company Makes Money
Tenaya Therapeutics is a clinical-stage biotechnology company and, as such, it does not primarily generate revenue from product sales because it does not have widely commercialized products. Its revenues, when present, are generally derived from c...
Tenaya Therapeutics Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
56
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 225.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 326.00K | -8.44M | -8.47M | -8.69M | -8.71M | -4.03M |
| EBITDA | -75.47M | -82.16M | -102.66M | -115.40M | -114.95M | -68.70M |
| Net Income | -83.00M | -90.60M | -111.13M | -124.08M | -123.67M | -72.72M |
Balance Sheet | ||||||
| Total Assets | 135.07M | 146.92M | 119.94M | 170.51M | 278.94M | 316.65M |
| Cash, Cash Equivalents and Short-Term Investments | 80.89M | 100.55M | 61.45M | 104.64M | 186.53M | 251.30M |
| Total Debt | 10.12M | 10.83M | 13.61M | 12.42M | 15.10M | 15.70M |
| Total Liabilities | 28.88M | 23.66M | 27.09M | 31.09M | 35.57M | 38.12M |
| Stockholders Equity | 106.19M | 123.27M | 92.85M | 139.42M | 243.38M | 278.53M |
Cash Flow | ||||||
| Free Cash Flow | -64.63M | -68.88M | -91.53M | -103.31M | -125.05M | -85.93M |
| Operating Cash Flow | -64.39M | -68.26M | -90.50M | -102.07M | -104.42M | -60.81M |
| Investing Cash Flow | 33.77M | 56.08M | 1.13M | 48.72M | 83.65M | -238.56M |
| Financing Cash Flow | 57.73M | 108.41M | 47.75M | 4.05M | 77.77M | 208.97M |
Tenaya Therapeutics Technical Analysis
Positive
1.33
Price Trends
0.79
Positive
0.75
Positive
0.97
Negative
Market Momentum
0.03
Negative
59.20
Neutral
76.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TNYA, the sentiment is Positive. The current price of 1.33 is above the 20-day moving average (MA) of 0.75, above the 50-day MA of 0.79, and above the 200-day MA of 0.97, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 59.20 is Neutral, neither overbought nor oversold. The STOCH value of 76.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TNYA.
Tenaya Therapeutics Risk Analysis
Tenaya Therapeutics disclosed 67 risk factors in its most recent earnings report. Tenaya Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tenaya Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $387.57M | 5.54 | 41.40% | ― | ― | ― | |
56 Neutral | $669.48M | -7.91 | -32.33% | ― | ― | 38.99% | |
56 Neutral | $723.91M | -10.06 | -60.42% | ― | ― | 26.28% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $297.01M | ― | 21.05% | ― | ― | 43.38% | |
44 Neutral | $190.94M | -1.81 | -80.56% | ― | ― | 59.42% | |
44 Neutral | $225.37M | -1.86 | -55.97% | ― | -45.50% | -35.63% |
* Healthcare Sector Average
TNYA
Tenaya Therapeutics
0.85
0.16
23.73%
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ABEO
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VYGR
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3.68
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TECX
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35.27
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CADL
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9.89
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Tenaya Therapeutics Corporate Events
Business Operations and Strategy
Tenaya Therapeutics Ends Manufacturing Center Lease, Shifts Strategy
Neutral
Jul 2, 2026
On June 29, 2026, Tenaya Therapeutics, Inc. agreed to terminate its lease for its former Genetic Medicines Manufacturing Center in Union City, Calif., a 94,046-square-foot facility decommissioned in 2025 to cut costs. The lease, originally set to ...
Business Operations and StrategyExecutive/Board Changes
Tenaya Therapeutics Appoints New Chief Financial Officer
Positive
Jun 29, 2026
Tenaya Therapeutics, a clinical-stage biotech developing genetic medicines for heart disease, has appointed industry veteran Eric Hyllengren as Chief Financial Officer, effective July 13, 2026. Hyllengren, who previously held senior finance and op...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Tenaya Therapeutics Shareholders Approve Expanded Equity Incentive Plan
Positive
May 29, 2026
On May 27, 2026, Tenaya Therapeutics’ shareholders approved an amended and restated 2021 Equity Incentive Plan, adding a one-time increase of about 6.5 million shares, equal to roughly 3% of outstanding stock, and revising the evergreen prov...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.