Tenaya Therapeutics Inc. Common Stock (TNYA)

FairStock Score: 54/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At $0.52 on 2026-10-13, Tenaya has a $116.8M market cap. This is a clinical-stage heart disease company with no meaningful product revenue. In fiscal Q2 2026, the quarter ended 2026-06-30, filed revenue was $1.1M and net income was -$43.4M, or diluted EPS -$0.20. In fiscal Q1 2026, revenue was $225,000 and net income -$19.3M. For FY2025, net income was -$90.6M, EPS -$0.59; FY2024 -$111.1M, EPS -$1.31; FY2023 -$124.1M, EPS -$1.68. So the company has lost money every year and continues to consume cash: trailing free cash flow is -$52.6M, a FCF yield of -45.0% (FairStock calc). Graham would not find earnings stability or margin of safety here. FairStock's P/E is -1.02; P/B 1.68; ROE -121.86%; ROCE -47.91%. Debt is low (D/E 0.06), but Altman Z -6.95 and Piotroski 3/9 point to financial fragility. The Lynch category is none because losses in each of last four years. The moat, if any, is intellectual property around TN-201, TN-401, TN-301, but clinical-stage biotech moats are unproven until trials and approvals. At 54/100 FairStock score, price near 52-week low $0.52 vs high $2.02, market is skeptical. This is not a value investment in the Buffett sense; it is a speculative option on science. I'd need to see trial success and financing clarity before calling it cheap.

In plain English: Tenaya Therapeutics is a small clinical-stage biotech company trying to develop gene therapies and a small molecule for heart disease. It has no steady product revenue and loses large amounts of money each quarter. At $0.52 a share, the market value is about $116.8 million; the price is not supported by profits today, so it looks speculative rather than cheap in the usual business sense.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer