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Stock impact report

Morgan Stanley Backs Tenaya Therapeutics (TNYA) as SMID-Cap Biotech Primed to Outperform in 2026 [Yahoo! Finance]

Tenaya Therapeutics, Inc. (TNYA) 
Company Research Source: Yahoo! Finance
on Tenaya Therapeutics to $2 from $5 and kept an Overweight rating on the shares. In a sector outlook note, the firm predicted that the US small-to-mid cap biotech stocks will continue to outperform in 2026. This bullish view is driven by commercial-stage companies transitioning from capital consumers to producers and a looming patent cliff that is currently threatening the revenue of large-cap biopharma. Earlier on December 16, Canaccord Genuity recently lowered its price target for Tenaya Therapeutics to $4 from $6, while maintaining a Buy rating. This adjustment reflected the impact of a recent $60 million capital raise (completed in December 2025), which caused some shareholder dilution but extended the company's cash runway into mid-2027. On December 12, H.C. Wainwright also lowered its price target for Tenaya Therapeutics Inc. (NASDAQ:TNYA) to $3 from $5 while maintaining a Buy rating. This reduction was also primarily due to the share dilution resulting from the company's $ Show less Read more
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