Group Gp Lp Column III Sells 3,511,826 Shares of Tenaya Therapeutics (NASDAQ:TNYA) Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 3,511,826 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $0.56, for a total value of $1,966,622.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% 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 Tuesday, February 24th, Group Gp Lp Column III sold 658,440 shares of Tenaya Therapeutics stock. The stock was sold at an average price of $0.62, for a total value of $408,232.80.
• On Wednesday, February 11th, Group Gp Lp Column III sold 4,056,573 shares of Tenaya Therapeutics stock. The shares were 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 transaction of $281,847.94.

Tenaya Therapeutics Price Performance

Shares of NASDAQ TNYA traded up $0.01 during trading hours on Thursday, hitting $0.61. 2,393,432 shares of the stock were exchanged, compared to its average volume of 3,798,919. Tenaya Therapeutics, Inc. has a one year low of $0.36 and a one year high of $2.35. The company’s 50 day moving average is $0.73 and its 200 day moving average is $1.14. The firm has a market capitalization of $99.74 million, a P/E ratio of -0.78 and a beta of 3.18.

Wall Street Analyst Weigh In

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

Institutional Trading of Tenaya Therapeutics

A number of hedge funds have recently modified their holdings of the company. Scientech Research LLC acquired a new stake in shares of Tenaya Therapeutics during the 3rd quarter worth approximately $27,000. Mirador Capital Partners LP raised its stake in shares of 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 purchasing an additional 6,500 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Tenaya Therapeutics in the third quarter worth $99,000. Persistent Asset Partners Ltd acquired a new stake in Tenaya Therapeutics during the third quarter worth $117,000. Finally, Savant Capital LLC acquired a new stake in Tenaya Therapeutics during the second quarter worth $52,000. Institutional investors own 90.54% of the company’s stock.

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.