Tenaya Therapeutics (NASDAQ:TNYA) CEO Faraz Ali Sells 22,232 Shares of Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) CEO Faraz Ali sold 22,232 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $0.71, for a total transaction of $15,784.72. Following the completion of the transaction, the chief executive officer owned 417,782 shares in the company, valued at $296,625.22. The trade was a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tenaya Therapeutics Stock Down 3.8%

Shares of Tenaya Therapeutics stock traded down $0.03 during trading on Monday, reaching $0.70. 4,279,891 shares of the stock were exchanged, compared to its average volume of 1,842,018. Tenaya Therapeutics, Inc. has a 1 year low of $0.53 and a 1 year high of $2.35. The firm has a market cap of $156.98 million, a price-to-earnings ratio of -1.32 and a beta of 2.83. The stock’s fifty day moving average is $0.76 and its 200 day moving average is $0.76.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The business had revenue of $1.11 million during the quarter, compared to analyst estimates of $10.00 million. Equities analysts forecast that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Scientech Research LLC bought a new stake in Tenaya Therapeutics during the third quarter worth about $27,000. Integrity Wealth Solutions LLC bought a new position in Tenaya Therapeutics during the 1st quarter valued at approximately $27,000. Callan Family Office LLC bought a new position in Tenaya Therapeutics during the 2nd quarter valued at approximately $37,000. Comerica Bank bought a new stake in Tenaya Therapeutics in the first quarter worth $50,000. Finally, Cerity Partners LLC boosted its holdings in Tenaya Therapeutics by 403.5% in the second quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock worth $67,000 after acquiring an additional 88,424 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TNYA. Wall Street Zen lowered shares of Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings raised Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

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.