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

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) CEO Faraz Ali sold 22,232 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was 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 directly owned 417,782 shares in the company, valued at $296,625.22. This represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tenaya Therapeutics Stock Down 3.8%

Shares of TNYA stock opened at $0.70 on Tuesday. The company has a market cap of $156.98 million, a P/E ratio of -1.32 and a beta of 2.83. The business has a 50 day moving average of $0.76 and a two-hundred day moving average of $0.76. Tenaya Therapeutics, Inc. has a 52 week low of $0.53 and a 52 week high of $2.35.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TNYA shares. Wall Street Zen cut Tenaya Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded shares of Tenaya Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of hedge funds have recently made changes to their positions in TNYA. Integrity Wealth Solutions LLC bought a new position in Tenaya Therapeutics in the 1st quarter worth approximately $27,000. Scientech Research LLC acquired a new position in Tenaya Therapeutics during the 3rd quarter worth $27,000. Callan Family Office LLC bought a new position in shares of Tenaya Therapeutics in the second quarter worth $37,000. Comerica Bank bought a new position in shares of Tenaya Therapeutics in the first quarter worth $50,000. Finally, Cerity Partners LLC increased its holdings in shares of Tenaya Therapeutics by 403.5% during the second quarter. Cerity Partners LLC now owns 110,336 shares of the company’s stock valued at $67,000 after purchasing an additional 88,424 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.