Faraz Ali Sells 22,232 Shares of Tenaya Therapeutics (NASDAQ:TNYA) Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) CEO Faraz Ali sold 22,232 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $0.71, for a total value of $15,784.72. Following the completion of the sale, the chief executive officer owned 417,782 shares in the company, valued at $296,625.22. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tenaya Therapeutics Trading Down 0.2%

Shares of Tenaya Therapeutics stock opened at $0.70 on Wednesday. The firm has a market cap of $156.62 million, a PE ratio of -1.32 and a beta of 2.83. The stock has a 50 day moving average of $0.76 and a 200 day moving average of $0.76. Tenaya Therapeutics, Inc. has a 12 month low of $0.53 and a 12 month high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $10.00 million. As a group, equities research analysts forecast that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Woodline Partners LP raised its holdings in 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 buying an additional 5,896,873 shares during the period. Empery Asset Management LP purchased a new position in Tenaya Therapeutics during the fourth quarter worth $3,852,000. Anson Funds Management LP purchased a new position in Tenaya Therapeutics during the fourth quarter worth $2,955,000. BlackRock Inc. bought a new position in Tenaya Therapeutics during the second quarter valued at $2,963,000. Finally, Alyeska Investment Group L.P. bought a new position in Tenaya Therapeutics during the fourth quarter valued at $2,846,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded shares of Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

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.