Acadian Asset Management LLC Reduces Position in Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

Acadian Asset Management LLC trimmed its position in Tenaya Therapeutics, Inc. (NASDAQ:TNYA) by 93.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,862 shares of the company’s stock after selling 167,270 shares during the period. Acadian Asset Management LLC’s holdings in Tenaya Therapeutics were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. purchased a new position in Tenaya Therapeutics during the 2nd quarter worth approximately $164,000. NEOS Investment Management LLC acquired a new stake in shares of Tenaya Therapeutics in the fourth quarter worth $201,000. HighPoint Advisor Group LLC purchased a new position in shares of Tenaya Therapeutics during the fourth quarter worth $228,000. Rhumbline Advisers lifted its position in Tenaya Therapeutics by 10.5% during the second quarter. Rhumbline Advisers now owns 78,160 shares of the company’s stock valued at $242,000 after purchasing an additional 7,441 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Tenaya Therapeutics by 90.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 168,565 shares of the company’s stock valued at $882,000 after purchasing an additional 80,212 shares during the period. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Tenaya Therapeutics in a research note on Monday, July 8th. William Blair began coverage on Tenaya Therapeutics in a research report on Monday, June 10th. They set an “outperform” rating for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $15.25.

Insider Transactions at Tenaya Therapeutics

In related news, CEO Faraz Ali sold 9,748 shares of Tenaya Therapeutics stock in a transaction on Friday, August 16th. The shares were sold at an average price of $2.89, for a total value of $28,171.72. Following the sale, the chief executive officer now owns 188,331 shares of the company’s stock, valued at approximately $544,276.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 19,539 shares of company stock valued at $56,468 in the last three months. 32.76% of the stock is currently owned by company insiders.

Tenaya Therapeutics Stock Performance

Shares of Tenaya Therapeutics stock opened at $2.13 on Friday. Tenaya Therapeutics, Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $7.01. The company has a market cap of $167.24 million, a P/E ratio of -1.30 and a beta of 2.38. The firm has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $3.78.

Tenaya Therapeutics (NASDAQ:TNYA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. Equities research analysts forecast that Tenaya Therapeutics, Inc. will post -1.52 EPS for the current year.

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.