Acadian Asset Management LLC Sells 167,270 Shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA)

Acadian Asset Management LLC reduced its stake in shares of Tenaya Therapeutics, Inc. (NASDAQ:TNYA) by 93.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,862 shares of the company’s stock after selling 167,270 shares during the quarter. Acadian Asset Management LLC’s holdings in Tenaya Therapeutics were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Panagora Asset Management Inc. purchased a new position in Tenaya Therapeutics during the 2nd quarter worth $164,000. NEOS Investment Management LLC purchased a new stake in shares of Tenaya Therapeutics in the 4th quarter worth $201,000. HighPoint Advisor Group LLC bought a new position in shares of Tenaya Therapeutics during the 4th quarter worth $228,000. Rhumbline Advisers increased its stake in shares of 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 buying an additional 7,441 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Tenaya Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 237,597 shares of the company’s stock valued at $737,000 after acquiring an additional 26,103 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Tenaya Therapeutics Price Performance

TNYA opened at $2.13 on Friday. The firm has a market capitalization of $167.24 million, a PE ratio of -1.30 and a beta of 2.38. The business’s 50-day moving average is $2.87 and its two-hundred day moving average is $3.78. Tenaya Therapeutics, Inc. has a 1 year low of $1.66 and a 1 year high of $7.01.

Tenaya Therapeutics (NASDAQ:TNYA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. As a group, sell-side analysts expect that Tenaya Therapeutics, Inc. will post -1.52 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Faraz Ali sold 9,748 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.89, for a total transaction of $28,171.72. Following the completion of the sale, the chief executive officer now owns 188,331 shares in the company, valued at approximately $544,276.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 19,539 shares of company stock valued at $56,468. 32.76% of the stock is currently owned by insiders.

About Tenaya Therapeutics

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.