Insider Selling: 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 company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $0.68, for a total transaction of $2,758,469.64. Following the sale, the insider directly owned 2,348,183 shares of the company’s stock, valued at $1,596,764.44. This represents a 63.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major 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 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 transaction of $281,847.94.

Tenaya Therapeutics Stock Performance

Shares of NASDAQ:TNYA opened at $0.66 on Friday. The firm has a 50 day simple moving average of $0.80 and a 200 day simple moving average of $1.15. Tenaya Therapeutics, Inc. has a 52 week low of $0.36 and a 52 week high of $2.35. The company has a market cap of $108.07 million, a PE ratio of -0.85 and a beta of 3.18.

Analyst Ratings Changes

A number of equities research analysts have commented on TNYA shares. Morgan Stanley set a $2.00 price objective on Tenaya Therapeutics in a research report on Thursday, January 8th. 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 lowered their price objective on shares of Tenaya Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Canaccord Genuity Group dropped their price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenaya Therapeutics in a research report on Wednesday, January 21st. Four 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, Tenaya Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $4.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TNYA. Woodline Partners LP raised its holdings in shares of 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 purchasing an additional 5,896,873 shares in the last quarter. Empery Asset Management LP bought a new position in Tenaya Therapeutics during the fourth quarter valued at about $3,852,000. Alyeska Investment Group L.P. acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter worth about $2,846,000. Millennium Management LLC boosted its stake in shares of Tenaya Therapeutics by 561.7% during the 3rd quarter. Millennium Management LLC now owns 4,504,592 shares of the company’s stock worth $7,297,000 after acquiring an additional 3,823,848 shares in the last quarter. Finally, Kalehua Capital Management LLC bought a new stake in shares of Tenaya Therapeutics during the 4th quarter worth about $1,423,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

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.