10 Best High-Risk Penny Stocks to Buy Right Now

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6. Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

Andy Hsieh of William Blair maintained a Buy rating on Tenaya Therapeutics, Inc. (NASDAQ:TNYA) on March 12, expressing a positive outlook for the stock. His view is supported by the company’s advancing pipeline and improving regulatory clarity. Expected alignment with regulators on the pivotal trial designs for TN-201 and TN-401 could serve as a major de-risking event, offering clearer approval pathways and better visibility on potential value drivers and timelines.

Momentum into 2026 is backed by resumed enrollment in the MyPEAK-1 study for TN-201 and positive DSMB safety feedback on TN-401, allowing dose expansion. Early data from TN-301 is also important, as it expands the platform beyond gene therapy and could add a third growth pillar, supported by sufficient capital to execute current plans.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) reported its fourth-quarter results on March 11, posting a GAAP EPS of -$0.12, which came in line with expectations. As of December 31, 2025, the company held $100.5 million in cash, cash equivalents, and investments in marketable securities, compared to $61.4 million at the end of December 2024. This increase reflects the additional net proceeds of $55.8 million raised through the December 2025 public offering, after accounting for underwriting discounts, commissions, and related expenses.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) operates as a clinical-stage biotechnology company across the United States. It develops, discovers, and delivers therapies for heart disease. The company’s lead product candidates are TN-401, TN-201, and TN-301.

While we acknowledge the potential of TNYA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TNYA and that has 100x upside potential, check out our report about the cheapest AI stock.

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