Price T Rowe Associates Inc. MD Sells 2,892,201 Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

Price T Rowe Associates Inc. MD cut its holdings in Tenaya Therapeutics, Inc. (NASDAQ:TNYA) by 95.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,234 shares of the company’s stock after selling 2,892,201 shares during the period. Price T Rowe Associates Inc. MD owned about 0.17% of Tenaya Therapeutics worth $196,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TNYA. Commerce Bank bought a new position in shares of Tenaya Therapeutics in the fourth quarter valued at approximately $29,000. Mariner LLC bought a new position in shares of Tenaya Therapeutics in the fourth quarter valued at approximately $30,000. Hsbc Holdings PLC bought a new position in shares of Tenaya Therapeutics in the fourth quarter valued at approximately $45,000. Spire Wealth Management bought a new position in shares of Tenaya Therapeutics in the fourth quarter valued at approximately $53,000. Finally, SG Americas Securities LLC grew its holdings in shares of Tenaya Therapeutics by 61.9% in the fourth quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock valued at $59,000 after acquiring an additional 15,777 shares in the last quarter. 90.54% of the stock is owned by institutional investors.

Insider Activity at Tenaya Therapeutics

In related news, major shareholder Group Gp Lp Column III bought 35,714,284 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $0.70 per share, for a total transaction of $24,999,998.80. Following the completion of the transaction, the insider now directly owns 49,313,559 shares in the company, valued at approximately $34,519,491.30. The trade was a 262.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 27,137 shares of company stock worth $13,902. Insiders own 32.76% of the company’s stock.

Tenaya Therapeutics Trading Up 2.8%

Tenaya Therapeutics stock opened at $0.45 on Friday. Tenaya Therapeutics, Inc. has a 12 month low of $0.36 and a 12 month high of $4.65. The business’s 50 day simple moving average is $0.52 and its 200 day simple moving average is $1.31. The company has a market cap of $39.38 million, a price-to-earnings ratio of -0.31 and a beta of 2.99.

Tenaya Therapeutics (NASDAQ:TNYA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). As a group, equities research analysts forecast that Tenaya Therapeutics, Inc. will post -1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TNYA shares. Chardan Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Tenaya Therapeutics in a report on Friday, May 9th. Morgan Stanley reduced their target price on Tenaya Therapeutics from $15.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Tenaya Therapeutics in a research note on Friday, April 25th. Finally, Canaccord Genuity Group dropped their price objective on Tenaya Therapeutics from $18.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $6.25.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.