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Tingley Whittemore, Chief Medical (TASE:BLWV) Officer of Tenaya Therapeutics , Inc. (NASDAQ:TNYA), has recently sold 2,937 shares of the company’s common stock. The shares were sold at a price of $0.4427 each, totaling approximately $1,300. According to InvestingPro data, TNYA’s stock has experienced significant volatility, falling nearly 90% over the past year, though it has shown a notable 8.6% gain in the past week. This transaction was made to cover tax withholding obligations related to the vesting of restricted stock units awarded earlier this year.
Following this sale, Whittemore retains direct ownership of 171,856 shares of Tenaya Therapeutics. This includes 107,507 shares that will be issued upon the vesting of additional restricted stock units. The transaction took place on May 16, 2025, and was part of routine financial planning activities.
In other recent news, Tenaya Therapeutics has reported significant developments in its gene therapy programs. The company released interim data from its RIDGE study, highlighting a high prevalence of arrhythmias in patients with PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC), suggesting a strong potential for its TN-401 gene therapy. The RIDGE study, which has enrolled over 175 patients, showed promising eligibility for the TN-401 treatment, as most patients lacked preexisting immunity to the therapy’s vector. In addition, Tenaya is advancing its TN-201 gene therapy for MYBPC3-associated hypertrophic cardiomyopathy (HCM), with preclinical data demonstrating improved cardiac function and protein expression.
Analysts have responded positively to Tenaya’s progress. H.C. Wainwright reaffirmed a Buy rating and a $5.00 price target, while Canaccord Genuity adjusted its price target to $6.00 from $18.00, maintaining a Buy rating. Despite these developments, Tenaya faces a potential Nasdaq delisting due to its stock price falling below the minimum bid requirement. The company has a 180-day period to address this issue and is exploring options to maintain compliance. Tenaya remains committed to advancing its clinical programs and plans to release additional data from its ongoing trials later in the year.
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