Insider Selling: Tenaya Therapeutics (NASDAQ:TNYA) Major Shareholder Sells $408,232.80 in Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 658,440 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $0.62, for a total value of $408,232.80. Following the sale, the insider owned 1,649,281 shares of the company’s stock, valued at approximately $1,022,554.22. The trade was a 28.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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 value 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 value 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 value of $281,847.94.

Tenaya Therapeutics Trading Down 7.8%

Tenaya Therapeutics stock opened at $0.56 on Friday. The company has a market cap of $91.99 million, a PE ratio of -0.72 and a beta of 3.18. Tenaya Therapeutics, Inc. has a 1 year low of $0.36 and a 1 year high of $2.35. The company’s 50-day moving average is $0.72 and its two-hundred day moving average is $1.14.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TNYA. Scientech Research LLC acquired a new position in shares of Tenaya Therapeutics in the third quarter valued at approximately $27,000. Mirador Capital Partners LP boosted its stake in Tenaya Therapeutics by 38.2% in the 3rd quarter. Mirador Capital Partners LP now owns 23,500 shares of the company’s stock worth $38,000 after purchasing an additional 6,500 shares during the period. Jefferies Financial Group Inc. acquired a new position in Tenaya Therapeutics in the 3rd quarter worth $99,000. Persistent Asset Partners Ltd bought a new position in Tenaya Therapeutics during the 3rd quarter worth about $117,000. Finally, Savant Capital LLC acquired a new stake in shares of Tenaya Therapeutics in the 2nd quarter valued at about $52,000. Institutional investors own 90.54% of the company’s stock.

Analyst Ratings Changes

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