Morgan Stanley lowered the firm’s price target on Tenaya Therapeutics (TNYA) to $5 from $15 and keeps an Overweight rating on the shares. Q4 was “uneventful” as data updates for TN-201 and TN-401 remain on track for later this year, says the analyst. The firm’s lower target reflects dilution from a recent fundraising and a lower view of the odds of success for TN-201, which it now pegs at 30%, down from 45% previously, the analyst explained.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TNYA:
- Tenaya Therapeutics Advances Gene Therapy Pipeline
- Tenaya Therapeutics price target lowered to $9 from $18 at Chardan
- Tenaya Therapeutics price target lowered to $5 from $18 at H.C. Wainwright
- Promising Clinical Developments and Strategic Advancements Support Buy Rating for Tenaya Therapeutics
- Tenaya Therapeutics reports Q4 EPS (28c), consensus (31c)
Questions or Comments about the article? Write to editor@tipranks.com