Group Gp Lp Column III Sells 658,440 Shares of Tenaya Therapeutics (NASDAQ:TNYA) Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 658,440 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $0.62, for a total transaction of $408,232.80. Following the sale, the insider owned 1,649,281 shares in the company, valued at approximately $1,022,554.22. The trade was a 28.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock 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 25th, Group Gp Lp Column III sold 3,511,826 shares of Tenaya Therapeutics stock. The shares were sold at an average price of $0.56, for a total transaction of $1,966,622.56.
• On Wednesday, February 11th, Group Gp Lp Column III sold 4,056,573 shares of Tenaya Therapeutics stock. The stock was sold at an average price of $0.68, for a total transaction of $2,758,469.64.
• On Tuesday, February 10th, Group Gp Lp Column III sold 343,717 shares of Tenaya Therapeutics stock. The stock was sold at an average price of $0.82, for a total transaction of $281,847.94.

Tenaya Therapeutics Price Performance

Shares of TNYA stock opened at $0.56 on Friday. Tenaya Therapeutics, Inc. has a one year low of $0.36 and a one year high of $2.35. The company’s fifty day moving average price is $0.72 and its 200-day moving average price is $1.14. The company has a market capitalization of $91.99 million, a price-to-earnings ratio of -0.72 and a beta of 3.18.

Institutional Trading of Tenaya Therapeutics

Hedge funds have recently modified their holdings of the company. Savant Capital LLC purchased a new position in shares of Tenaya Therapeutics in the second quarter valued at $52,000. Kalehua Capital Management LLC purchased a new stake in Tenaya Therapeutics during the fourth quarter valued at $1,423,000. Burkehill Global Management LP bought a new position in Tenaya Therapeutics during the fourth quarter valued at $1,423,000. Renaissance Technologies LLC grew its stake in shares of Tenaya Therapeutics by 10.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,850,867 shares of the company’s stock worth $1,317,000 after buying an additional 172,665 shares in the last quarter. Finally, Sphera Funds Management LTD. purchased a new position in shares of Tenaya Therapeutics in the 4th quarter worth $1,067,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Tenaya Therapeutics

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.