Insider Selling: Tenaya Therapeutics (NASDAQ:TNYA) Major Shareholder Sells 4,056,573 Shares of Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 4,056,573 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $0.68, for a total transaction of $2,758,469.64. Following the completion of the sale, the insider owned 2,348,183 shares in the company, valued at $1,596,764.44. This represents a 63.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 NASDAQ TNYA traded up $0.00 on Thursday, hitting $0.68. The company’s stock had a trading volume of 4,480,550 shares, compared to its average volume of 3,880,488. The stock has a 50 day moving average of $0.83 and a 200-day moving average of $1.15. The company has a market capitalization of $113.83 million, a price-to-earnings ratio of -0.88 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.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. Sell-side analysts expect that Tenaya Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

Institutional Trading of Tenaya Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Scientech Research LLC acquired a new position in Tenaya Therapeutics in the third quarter valued at $27,000. Mirador Capital Partners LP raised its holdings in Tenaya Therapeutics by 38.2% in the third quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock valued at $38,000 after buying an additional 6,500 shares during the period. Comerica Bank acquired a new position in Tenaya Therapeutics during the first quarter valued at approximately $50,000. Savant Capital LLC purchased a new stake in Tenaya Therapeutics during the second quarter worth approximately $52,000. Finally, CWM LLC increased its position in shares of Tenaya Therapeutics by 25.2% in the second quarter. CWM LLC now owns 90,087 shares of the company’s stock worth $55,000 after acquiring an additional 18,142 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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