Insider Buying: Tenaya Therapeutics, Inc. (NASDAQ:TNYA) Major Shareholder Buys $24,999,998.80 in Stock

Tenaya Therapeutics, Inc. (NASDAQ:TNYA) major shareholder Group Gp Lp Column III bought 35,714,284 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $0.70 per share, with a total value of $24,999,998.80. Following the transaction, the insider now owns 49,313,559 shares in the company, valued at $34,519,491.30. The trade was a 262.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tenaya Therapeutics Trading Down 3.2 %

TNYA opened at $0.46 on Monday. Tenaya Therapeutics, Inc. has a 12-month low of $0.39 and a 12-month high of $6.47. The company has a market cap of $36.05 million, a price-to-earnings ratio of -0.32 and a beta of 2.83. The company’s 50 day moving average is $1.14 and its 200 day moving average is $1.88.

Institutional Investors Weigh In On Tenaya Therapeutics

A number of hedge funds have recently modified their holdings of TNYA. State Street Corp lifted its position in Tenaya Therapeutics by 0.9% during the third quarter. State Street Corp now owns 1,058,898 shares of the company’s stock valued at $2,044,000 after purchasing an additional 9,506 shares in the last quarter. Synovus Financial Corp purchased a new position in shares of Tenaya Therapeutics during the 3rd quarter valued at about $28,000. SG Americas Securities LLC grew its stake in shares of Tenaya Therapeutics by 61.9% during the 4th quarter. SG Americas Securities LLC now owns 41,270 shares of the company’s stock valued at $59,000 after acquiring an additional 15,777 shares during the period. XTX Topco Ltd grew its stake in shares of Tenaya Therapeutics by 51.2% during the 3rd quarter. XTX Topco Ltd now owns 49,290 shares of the company’s stock valued at $95,000 after acquiring an additional 16,687 shares during the period. Finally, Atticus Wealth Management LLC increased its holdings in Tenaya Therapeutics by 56.3% in the 4th quarter. Atticus Wealth Management LLC now owns 47,762 shares of the company’s stock worth $68,000 after acquiring an additional 17,199 shares in the last quarter. Institutional investors own 90.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TNYA. Chardan Capital restated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Tenaya Therapeutics in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.33.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.