Insider Selling: Tenaya Therapeutics (NASDAQ:TNYA) Major Shareholder Sells 658,440 Shares of Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 658,440 shares of Tenaya Therapeutics 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $0.82, for a total value of $281,847.94.

Tenaya Therapeutics Stock Performance

NASDAQ:TNYA traded up $0.01 during trading hours on Thursday, hitting $0.61. 2,393,432 shares of the company’s stock traded hands, compared to its average volume of 3,798,919. The stock’s fifty day moving average price is $0.73 and its two-hundred day moving average price is $1.14. The firm has a market cap of $99.74 million, a P/E ratio of -0.78 and a beta of 3.18. Tenaya Therapeutics, Inc. has a twelve month low of $0.36 and a twelve month high of $2.35.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Scientech Research LLC bought a new position in shares of Tenaya Therapeutics during the 3rd quarter valued at $27,000. Mirador Capital Partners LP boosted 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 worth $38,000 after purchasing an additional 6,500 shares in the last quarter. Comerica Bank acquired a new position in Tenaya Therapeutics during the first quarter worth $50,000. Savant Capital LLC bought a new position in Tenaya Therapeutics during the second quarter valued at about $52,000. Finally, CWM LLC raised its holdings in Tenaya Therapeutics by 25.2% during the second quarter. CWM LLC now owns 90,087 shares of the company’s stock valued at $55,000 after buying an additional 18,142 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TNYA shares. Chardan Capital reduced their price target on shares of Tenaya Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, December 12th. HC Wainwright cut 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. Canaccord Genuity Group lowered 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. Morgan Stanley set a $2.00 price target on shares of Tenaya Therapeutics in a research note on Thursday, January 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tenaya Therapeutics currently 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.