Insider Selling: Tenaya Therapeutics (NASDAQ:TNYA) Major Shareholder Sells $281,847.94 in Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 343,717 shares of Tenaya Therapeutics stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $0.82, for a total value of $281,847.94. Following the completion of the sale, the insider owned 4,253,298 shares in the company, valued at approximately $3,487,704.36. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Group Gp Lp Column III also recently made the following trade(s):

• On Wednesday, February 11th, Group Gp Lp Column III sold 4,056,573 shares of Tenaya Therapeutics stock. The shares were sold at an average price of $0.68, for a total transaction of $2,758,469.64.

Tenaya Therapeutics Trading Down 3.5%

TNYA stock opened at $0.66 on Friday. The firm has a 50 day moving average of $0.80 and a 200-day moving average of $1.15. The company has a market cap of $108.07 million, a price-to-earnings ratio of -0.85 and a beta of 3.18. Tenaya Therapeutics, Inc. has a 12-month low of $0.36 and a 12-month high of $2.35.

Institutional Investors Weigh In On Tenaya Therapeutics

Several hedge funds have recently made changes to their positions in TNYA. Comerica Bank acquired a new position in Tenaya Therapeutics in the first quarter valued at $50,000. AQR Capital Management LLC purchased a new stake in Tenaya Therapeutics in the 1st quarter valued at about $442,000. Woodline Partners LP increased its stake in shares of Tenaya Therapeutics by 30,563.2% during the 1st quarter. Woodline Partners LP now owns 5,916,167 shares of the company’s stock valued at $3,373,000 after acquiring an additional 5,896,873 shares during the last quarter. CWM LLC lifted its holdings in shares of Tenaya Therapeutics by 25.2% during the 2nd quarter. CWM LLC now owns 90,087 shares of the company’s stock worth $55,000 after acquiring an additional 18,142 shares during the period. Finally, Savant Capital LLC purchased a new position in shares of Tenaya Therapeutics during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TNYA. Morgan Stanley set a $2.00 price target on Tenaya Therapeutics in a research report on Thursday, January 8th. HC Wainwright dropped their target price on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a report on Friday, December 12th. Canaccord Genuity Group reduced their price target on shares of Tenaya Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenaya Therapeutics in a research note on Wednesday, January 21st. Finally, Chardan Capital cut their price objective on Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.50.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics is a clinical‐stage biotechnology company focused on the discovery and development of gene therapy solutions for cardiovascular diseases. Leveraging a proprietary adeno‐associated virus (AAV) platform, the company aims to deliver durable, one‐time treatments for patients suffering from genetic cardiomyopathies and other inherited heart disorders. Its research programs center on optimizing vector design, delivery methods and manufacturing processes to enhance tissue specificity and minimize immune responses.

Founded in 2018 and headquartered in San Carlos, California, Tenaya has built a diversified pipeline of product candidates targeting conditions such as hypertrophic cardiomyopathy and other genetically driven forms of heart disease.