"" Lead: Tenaya Therapeutics CEO Ali Faraz has sold $15,777 worth of company shares to cover tax withholding obligations for restricted stock units. The sales come as the biotech firm's stock has declined 44% over the past year.
Body: Ali Faraz, CEO of Tenaya Therapeutics, disposed of 22,232 shares of the company's common stock on August 17, 2026, at prices ranging from $0.6820 to $0.7253 per share. The transactions were related to the vesting of restricted stock units (RSUs) awarded to Mr. Faraz.
The sales were made to cover tax withholding obligations associated with the vesting of RSUs. The stock has shown some recovery with an 11% gain over the past six months, but exhibits high volatility with a beta of 2.79.
Background: Tenaya Therapeutics has reported interim safety and efficacy data from its MyPEAK-1 Phase 1b/2 clinical trial, evaluating the TN-201 gene therapy for MYBPC3-associated hypertrophic cardiomyopathy. The company has also announced the appointment of Eric Hyllengren as Chief Financial Officer and plans to present additional data from the trial.
Investment Insights: Piper Sandler has reiterated an Overweight rating on Tenaya Therapeutics with a $40 price target, viewing the company's small molecule HDAC6 inhibitor as a significant opportunity.
Category Tags: defi-news, biotech, nfts, altcoins, markets Tags: tenaya-therapeutics, ali-faraz, rsus, restricted-stock-units, gene-therapy Image Prompt: bold graphic of a biotech lab with a gene therapy concept