Tenaya Therapeutics (NASDAQ:TNYA) CEO Sells $15,784.72 in Stock

Key Points

• CEO Faraz Ali sold 22,232 Tenaya Therapeutics shares at an average price of $0.71, totaling $15,784.72. The sale covered tax withholding tied to vested equity awards and reduced his direct holdings by 5.05% to 417,782 shares.
• Tenaya shares fell 3.8% to $0.70, while the company reported a quarterly loss of $0.20 per share—worse than the expected $0.07 loss—and revenue of $1.11 million versus a $10 million estimate.
• Despite the weak results and mixed analyst actions, institutional investors own 90.54% of the stock, and analysts maintain a consensus “Moderate Buy” rating with a $4.00 target price.

Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) CEO Faraz Ali sold 22,232 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $0.71, for a total transaction of $15,784.72. Following the transaction, the chief executive officer directly owned 417,782 shares of the company's stock, valued at approximately $296,625.22. This represents a 5.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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%

NASDAQ:TNYA traded down $0.03 during trading hours on Monday, hitting $0.70. 4,279,891 shares of the company's stock traded hands, compared to its average volume of 1,842,018. The firm has a market cap of $156.98 million, a P/E ratio of -1.32 and a beta of 2.83. Tenaya Therapeutics, Inc. has a 52 week low of $0.53 and a 52 week high of $2.35. The business's fifty day simple moving average is $0.76 and its two-hundred day simple moving average is $0.76.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last announced its 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 business had revenue of $1.11 million during the quarter, compared to analyst estimates of $10.00 million. On average, analysts expect that Tenaya Therapeutics, Inc. will post -0.42 EPS for the current year.

Institutional Trading of Tenaya Therapeutics

Several institutional investors have recently added to or reduced their stakes in TNYA. Woodline Partners LP increased its holdings in shares of Tenaya Therapeutics by 30,563.2% in the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock worth $3,373,000 after buying an additional 5,896,873 shares during the period. Empery Asset Management LP bought a new stake in Tenaya Therapeutics in the fourth quarter valued at approximately $3,852,000. Anson Funds Management LP purchased a new stake in shares of Tenaya Therapeutics during the fourth quarter valued at approximately $2,955,000. BlackRock Inc. purchased a new stake in shares of Tenaya Therapeutics during the second quarter valued at approximately $2,963,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Tenaya Therapeutics in the fourth quarter worth $2,846,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.

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