Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tenaya Therapeutics Inc shares valued at $23,101 were sold by Hoey Timothy on Mar 05 ’24. At $7.00 per share, Hoey Timothy sold 3,300 shares. The insider’s holdings dropped to 245,346 shares worth approximately $1.27 million following the completion of this transaction.
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Also, Hoey Timothy sold 6,569 shares, netting a total of over 35,046 in proceeds. Following the sale of shares at $5.34 each, the insider now holds 236,146 shares.
Before that, Tingley Whittemore had sold 6,500 shares from its account. In a trade valued at $38,090, the Chief Medical Officer traded Tenaya Therapeutics Inc shares for $5.86 each. Upon closing the transaction, the insider’s holdings decreased to 6,500 shares, worth approximately $0.38 million.
As published in their initiating research note from Leerink Partners on November 30, 2023, Tenaya Therapeutics Inc [TNYA] has been an Outperform and the price target has been revised to $7. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June.
Analyzing TNYA Stock Performance
During the last five days, there has been a surge of approximately 5.31%. Over the course of the year, Tenaya Therapeutics Inc shares have jumped approximately 59.26%. Shares of the company reached a 52-week high of $7.01 on 03/05/24 and a 52-week low of $2.74 on 01/17/24. A 50-day SMA is recorded $5.12, while a 200-day SMA reached $3.87. Nevertheless, trading volume fell to 0.62 million shares from 0.32 million shares the previous day.
Support And Resistance Levels for Tenaya Therapeutics Inc (TNYA)
According to the 24-hour chart, there is a support level at 4.84, which, if violated, would cause prices to drop to 4.53. In the upper region, resistance lies at 5.38. The next price resistance is at 5.61. RSI (Relative Strength Index) is 49.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 60.67%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Tenaya Therapeutics Inc subject to short interest?
Stocks of Tenaya Therapeutics Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 70000.0 shares to 2.55 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.48 million shares. A jump of 2.75% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.39 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.39.
