TNYA Tenaya Therapeutics, Inc.

MIXED Impact: 1/10 ANALYST-UPGRADE
Processed 1mo ago SEC analyst-TNYA-williamb-20240610
William Blair initiates coverage on TNYA at Outperform
Latest settled — T+20d ⚠ clustered
TNYA ▲ +19.57% at T+20d
NEUTRAL call ✓ call won +19.57% · α vs SPY +14.19% · entry $0.7820 → $0.9350
Next anchor: T+60d in 5w
Last close $0.6860 (close Jun 8) · -12.28% from $0.7820 entry
Entry anchored
Apr 16, 03:59 PM ET
via Databento tick
T+1d
-5.24%
call -5.24% · α -5.05%
$0.7410
settled 8w ago
T+5d
-14.07%
call -14.07% · α -14.62%
$0.6720
settled 7w ago
T+20d
+19.57%
call +19.57% · α +14.19%
$0.9350
settled 27d ago
T+60d
call — · α —
in 5w

Price Chart

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Executive Summary

William Blair initiated coverage on TNYA with an Outperform rating, marking a bullish signal for the micro-cap biotech. The firm did not set a price target. Consensus among 7 analysts shows a wide divergence, with a mean target of $9 and median of $3, implying 1,067% upside to the mean. William Blair has a 51% accuracy rate (138/273 calls), slightly below the industry average. Analyst momentum is neutral with no recent upgrades or downgrades. Insider selling by COLUMN GROUP III GP, LP totaled over $1.2M in February 2026, while institutional investors including Vanguard and Two Sigma initiated new positions. Short interest is extremely high at 59.2% of float. EPS estimates show modest upward revisions over the past 30 days for current and next quarter, but FY+1 estimates have declined. No earnings date is scheduled within 30 days.

Impact Score

Base Score
0/7
LLM Adjustment
+1
Final Score
1/10

Recent Analyst Activity

DateFirmActionRatingPrice Target
2026-03-12 Chardan Capital maintain Buy
2025-12-18 Canaccord Genuity maintain Buy $5.00
2025-12-12 HC Wainwright & Co. maintain Buy $3.00
2025-12-12 Chardan Capital maintain Buy $8.00
2025-11-10 Chardan Capital maintain Buy $9.00
2025-09-02 HC Wainwright & Co. reiterate Buy $5.00
2025-08-27 HC Wainwright & Co. reiterate Buy $5.00
2025-08-07 Chardan Capital maintain Buy $9.00
2025-05-09 Chardan Capital maintain Buy $9.00
2025-04-25 HC Wainwright & Co. reiterate Buy $5.00

There have been 0 upgrades and 0 downgrades in the last 30 days. EPS estimates show 5 upward revisions in the past 30 days for the current year (0 down), 1 up for current quarter, and 2 up / 1 down for next year. The FY+1 EPS estimate was revised down from $0.085 to -$0.452, indicating deteriorating long-term expectations despite short-term stability.

Firm Track Record — William Blair

William Blair accuracy: 51% on 273 calls | avg return: 4.2%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 3 firms with ≥5 scored calls.

FirmAccuracyCallsAvg Returnvs Average
Chardan Capital 57% 4/7 1.3% above average
HC Wainwright & Co. 43% 6/14 -18.8% below average
Canaccord Genuity 25% 1/4 -13% below average

William Blair has a 51% accuracy rate (138 correct out of 273 rated stocks), slightly below average compared to other firms covering TNYA. Chardan Capital leads with 57% accuracy (4/7), followed by HC Wainwright at 43% (6/14), and Canaccord Genuity at 25% (1/4). William Blair’s average return on rated stocks is 4.2%, above HC Wainwright’s -18.8% but below Chardan’s 1.3%.

Earnings Estimates

PeriodEPS Est.EPS RangeRevenueRevisions (7d)
0y $-0.43 $-0.59 — $-0.27 $10.0M ↑5 ↓0
0q $-0.09 $-0.14 — $-0.05 $7.5M ↑1 ↓0
+1q $-0.11 $-0.14 — $-0.05 $2.5M ↑2 ↓0
+1y $-0.45 $-0.59 — $-0.29 $0.00 ↑0 ↓0

Cross-Platform Signals

Insider Trades (90d)
0 buys / 4 sells
Institutional
VANGUARD GROUP INC — add (69%)
Institutional
WELLS FARGO & COMPANY/MN — doubled (300%)
Institutional
TWO SIGMA INVESTMENTS, LP — add (39%)
Short Interest
Short: 1,656,052 | Exempt: 11,589 | TRF Vol: 2,799,055 | Short Ratio: 59.2% | Off-exchange volume (dark pool + OTC)

Insiders — specifically COLUMN GROUP III GP, LP — sold over $1.3M in shares in February 2026, signaling potential profit-taking. Conversely, institutional investors added positions: Vanguard added 69% (valued at $6.1M), Two Sigma initiated a $901K position, and Morgan Stanley added $271K. Wells Fargo both doubled and later trimmed its stake. Short interest is extremely high at 59.2% of float, suggesting significant bearish sentiment despite bullish analyst ratings.

Actionable Insight

Bullish initiation from a mid-tier accuracy firm aligns with consensus but lacks a price target, reducing impact. High short interest and mixed institutional flows suggest volatility ahead. Favorable near-term EPS revision trend offsets deteriorating long-term estimates.

Documents Analyzed

Report based on filing metadata.

9 reports for TNYA
Performance horizon
33% Hit rate 1 of 3 directional calls best @ T+5▲ +9.04%Mar 5, 2026
Filters
Rows
Reports for TNYA — sortable, filterable
Type Now
May 29, 2026
11d ago
8-K
NEUTRAL ★ 3/10
$0.8700 $0.7280▼ −16.32%▼ −13.57%$0.6860 (−21.15%)
May 19, 2026
21d ago
Insider Cluster
NEUTRAL ★ 2/10
$0.8080 $0.7920▼ −1.98%▼ −3.22%$0.6860 (−15.10%)
May 16, 2026
24d ago
ANALYST-UPGRADE
BULLISH ★ 1/10
$3.76 $3.30▼ −12.23%▼ −14.36%$0.6860 (−81.76%)
Apr 16, 2026
7w ago
ANALYST-UPGRADE
MIXED ★ 1/10
$0.7820 $0.6720▼ −14.07%▼ −14.62%$0.6860 (−12.28%)
Apr 16, 2026
7w ago
DEFA14A
NEUTRAL ★ 3/10
$0.7470 $0.6840▼ −8.43%▼ −9.42%$0.6860 (−8.17%)
Mar 11, 2026
12w ago
8-K
NEUTRAL ★ 4/10
$0.8930 $0.8040▼ −9.97%▼ −8.99%$0.6860 (−23.18%)
Mar 11, 2026
12w ago
Press Release
MIXED ★ 6/10
$0.8930 $0.8040▼ −9.97%▼ −8.99%$0.6860 (−23.18%)
Mar 9, 2026
13w ago
Press Release
BULLISH ★ 7/10
$0.9580 $0.8570▼ −10.54%▼ −9.19%$0.6860 (−28.39%)
Mar 5, 2026
13w ago
8-K
BULLISH ★ 8/10
$0.8190 $0.8930▲ +9.04%▲ +11.27%$0.6860 (−16.24%)
Showing 9 of 9

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