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Higa Tomohiro, the Senior Vice President of Finance at Tenaya Therapeutics , Inc. (NASDAQ:TNYA), recently sold a total of 2,482 shares of the company’s common stock. The sales, which occurred on March 10, 2025, were executed at an average price of $0.5384 per share, resulting in a total transaction value of approximately $1,334. The transaction comes as the stock trades near $0.51, down over 90% in the past year. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions, while the company maintains a strong liquidity position with more cash than debt on its balance sheet.
These transactions were conducted to cover tax withholding obligations related to the vesting of restricted stock units. Following these sales, Tomohiro holds 99,690 shares directly, which includes shares that will be issued upon vesting of additional restricted stock units. InvestingPro subscribers can access 14 additional key insights about TNYA’s financial health and market position, helping investors make more informed decisions about this volatile biotech stock.
In other recent news, Tenaya Therapeutics has announced a public offering of common stock and warrants, aiming to raise capital for its ongoing projects. Leerink Partners and Piper Sandler are managing the offering, which is contingent on market conditions. In corporate developments, Tenaya has appointed Mr. Tomohiro Higa as the Interim Principal Accounting Officer, while also repricing stock options for CEO Faraz Ali to retain and motivate key personnel. The repricing affects approximately 915,875 shares, with exercise prices now set at $1.21 per share.
Additionally, Tenaya Therapeutics received an $8 million grant from the California Institute of Regenerative Medicine to support its Phase 1b RIDGE-1 study of TN-401 gene therapy. The study, targeting PKP2-associated arrhythmogenic right ventricular cardiomyopathy, is progressing with over 100 participants enrolled. Analyst firm H.C. Wainwright has maintained a Buy rating on Tenaya, with a price target of $18.00, indicating confidence in the company’s ongoing projects. Lastly, Tenaya continues to advance its gene therapy candidates, TN-201 and TN-401, with various clinical trials and strategic goals set for 2025.
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