Tenaya Therapeutics (NASDAQ:TNYA) Major Shareholder Sells $2,758,469.64 in Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III sold 4,056,573 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total value of $2,758,469.64. Following the completion of the transaction, the insider directly owned 2,348,183 shares in the company, valued at $1,596,764.44. This trade represents a 63.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $281,847.94.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA traded up $0.00 during mid-day trading on Thursday, hitting $0.68. 4,480,550 shares of the company traded hands, compared to its average volume of 3,880,488. The firm’s 50 day simple moving average is $0.83 and its 200 day simple moving average is $1.15. The firm has a market cap of $113.83 million, a P/E ratio of -0.88 and a beta of 3.18. Tenaya Therapeutics, Inc. has a 52-week low of $0.36 and a 52-week high of $2.35.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results 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. Equities research analysts expect that Tenaya Therapeutics, Inc. will post -1.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Tenaya Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Scientech Research LLC acquired a new stake in shares of Tenaya Therapeutics during the third quarter worth $27,000. Mirador Capital Partners LP grew its holdings in shares of Tenaya Therapeutics by 38.2% during 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 during the last quarter. Comerica Bank acquired a new stake in shares of Tenaya Therapeutics during the 1st quarter worth approximately $50,000. Savant Capital LLC bought a new stake in shares of Tenaya Therapeutics in the 2nd quarter worth approximately $52,000. Finally, CWM LLC boosted its position in Tenaya Therapeutics by 25.2% during the 2nd quarter. CWM LLC now owns 90,087 shares of the company’s stock valued at $55,000 after purchasing an additional 18,142 shares during the period. 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.