Tenaya Therapeutics Stock Jumps After New Alnylam Deal

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) shares are up on Thursday, reflecting a positive market response to a research collaboration agreement with Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY).

• Tenaya Therapeutics shares are powering higher. What’s behind TNYA gains?

The collaboration is focused on discovering human genetic targets for the potential development of treatments for cardiovascular diseases.

Tenaya Therapeutics will validate up to 15 gene targets. It will receive up to $10 million in upfront payments, with potential milestone payments reaching up to $1.13 billion.

Tenaya’s Capabilities

Tenaya uses human-induced pluripotent stem cell-derived cardiomyocytes (iPSC-CMs) with high throughput to identify genetic targets, and human-engineered heart tissue and preclinical in vivo models of human disease to validate and characterize potential product candidates.

Collectively, Tenaya’s target identification and validation capabilities have generated more than 150 genetic targets and contributed to the discovery and development of the company’s clinical-stage candidates, including the TN-201 and TN-401 gene therapies and TN-301 small molecule, as well as several early-stage programs.

In December 2025, Tenaya Therapeutics shared interim data from the ongoing RIDGE-1 Phase 1b/2 trial of TN-401 gene therapy for rare inherited heart disease.

Data reported include safety, biopsy, and arrhythmia results from three patients who received TN-401 at a dose of 3E13 vg/kg.

Alnylam 2030

In January, Alnylam Pharmaceuticals announced a new five-year roadmap, “Alnylam 2030,” outlining the company's focus on scaling its operations.

At the core of Alnylam 2030 is a push to establish durable global leadership in transthyretin, or TTR, diseases. The company aims to lead the TTR market in revenue by 2030 and cumulatively over the next five years.

Tenaya Therapeutics Technical Analysis

Despite today’s uptick, Tenaya Therapeutics is trading 29.1% below its 100-day SMA and 23.6% below its 200-day SMA, indicating a bearish trend over the medium to long term.

The stock’s RSI stands at 40.21, suggesting it is neither overbought nor oversold, while the MACD indicates bearish momentum, with the MACD line below the signal line.

Analyst Consensus & Recent Actions: The stock carries a Buy rating. Recent analyst moves include:

• Canaccord Genuity: Buy (Lowers target to $5 as of Dec. 18, 2025)
• HC Wainwright & Co.: Buy (Lowers target to $3 as of Dec. 12, 2025)
• Chardan Capital: Buy (Lowers target to $8 as of Dec. 12, 2025)

TNYA Price Action: Tenaya Therapeutics shares were up 31.20% at 76 cents at the time of publication on Thursday, according to Benzinga Pro data.

Image via Shutterstock