Key Points
- CEO Faraz Ali sold 22,232 Tenaya Therapeutics shares at an average price of $0.71, generating $15,784.72. The sale covered tax-withholding obligations from vested equity awards and reduced his holdings by 5.05% to 417,782 shares.
- Tenaya shares opened at $0.70, near the lower end of their 12-month range of $0.53 to $2.35. The company recently reported a quarterly loss of $0.20 per share, missing the $0.07 consensus estimate, while revenue of $1.11 million fell well short of expectations.
- Despite mixed analyst views, Tenaya has a consensus rating of “Moderate Buy” and an average price target of $4.00. Institutional investors and hedge funds own approximately 90.54% of the company’s shares.
Tenaya Therapeutics, Inc. (NASDAQ:TNYA - Get Free Report) CEO Faraz Ali sold 22,232 shares of the business'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 sale, the chief executive officer owned 417,782 shares in the company, valued at $296,625.22. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Tenaya Therapeutics Price Performance
Tenaya Therapeutics stock opened at $0.70 on Tuesday. Tenaya Therapeutics, Inc. has a 12-month low of $0.53 and a 12-month high of $2.35. The stock has a market capitalization of $156.98 million, a PE ratio of -1.32 and a beta of 2.83. The firm has a 50 day simple moving average of $0.76 and a 200-day simple moving average of $0.76.
Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.13). The company had revenue of $1.11 million during the quarter, compared to analysts' expectations of $10.00 million. On average, analysts forecast that Tenaya Therapeutics, Inc. will post -0.42 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Tenaya Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Weiss Ratings raised shares of Tenaya Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tenaya Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.00.
Get Our Latest Analysis on Tenaya Therapeutics
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Integrity Wealth Solutions LLC purchased a new stake in Tenaya Therapeutics in the 1st quarter worth about $27,000. Scientech Research LLC purchased a new position in Tenaya Therapeutics during the 3rd quarter valued at about $27,000. Callan Family Office LLC acquired a new position in shares of Tenaya Therapeutics in the 2nd quarter valued at about $37,000. Comerica Bank acquired a new position in shares of Tenaya Therapeutics in the 1st quarter valued at about $50,000. Finally, Cerity Partners LLC lifted its position in shares of 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 purchasing an additional 88,424 shares in the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.
About Tenaya Therapeutics
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
