Is TNXP or TNYA more undervalued in 2026?

CirclFi compares Tonix Pharmaceuticals Holding C (TNXP) and Tenaya Therapeutics, Inc. (TNYA) using 13 institutional-grade valuation models. TNXP has a Quality of Company score of 6.1/10 while TNYA scores 4.1/10.

Which is a better buy — TNXP or TNYA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do TNXP and TNYA valuations compare?

TNXP at $12.64 and TNYA at $0.80 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

TNXP vs TNYA Valuation Comparison 2026 — Intrinsic Value Analysis

TNXP

Biotechnology

Tonix Pharmaceuticals Holding C

Quality

6.1

out of 10

Value Trap

LOW

Price

$12.64

Last close

Models

12/13

Active

TNYA

Biotechnology

Tenaya Therapeutics, Inc.

Quality

4.1

out of 10

Value Trap

LOW

Price

$0.80

Last close

Models

8/13

Active

Model-by-Model Comparison

Model	Type	TNXP Fair Value	TNXP Upside	TNYA Fair Value	TNYA Upside
Bayesian DCF	Intrinsic	$9.52	-24.7%	$0.40	-50.0%
Earnings Power Value	Intrinsic	$20.65	+51.8%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$15.90	+25.8%	$0.79	-1.2%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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TNXP vs TNYA — Which Stock Is More Undervalued?

TNXP scores higher with a 6.1/10 quality rating vs TNYA's 4.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Tonix Pharmaceuticals Holding C (TNXP) and Tenaya Therapeutics, Inc. (TNYA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

TNXP currently trades at $12.64 with a QOC of 6.1/10, while TNYA trades at $0.80 with a QOC of 4.1/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).