We recently published a list of 15 Cheapest Stocks Insiders Are Buying In March. In this article, we are going to take a look at where Tenaya Therapeutics, Inc. (NASDAQ:TNYA) stands against other cheapest stocks insiders are buying in March.
After solid gains Monday, the broader market index and blue chip companies traded flat Tuesday, while the NASDAQ Composite rose 0.2%. Monday’s enthusiasm came from hopes of looser U.S. tariffs.
Investors mostly ignored the March consumer confidence data released on Tuesday, which showed a sharp decline in U.S. consumers’ short-term outlook on income, business, and job conditions, reports CNBC.
“Sentiment continues to wane among investors, consumers and businesses as economic concerns and economic policy uncertainty takes its toll,” said Bret Kenwell, U.S. investment analyst at eToro. “Until there’s more certainty on the tariff and macro front, sentiment and confidence remain vulnerable.”
As investors navigate daily market changes, uncertainty remains a persistent factor. Insider trading tends to attract attention during these periods, as purchases of company stock by executives may suggest optimism about the company’s future. However, insider selling doesn’t necessarily signal a lack of confidence—it could simply be for personal financial reasons or to diversify holdings. Many executives use pre-established plans, such as 10b5-1, to maintain transparency. While insider trading can provide useful insights, it’s important to evaluate it alongside a company’s financial stability, broader market trends, and industry dynamics.
What are some of the cheapest stocks insiders have been buying this month so far? To find out, we used Insider Monkey’s insider trading stock screener, focusing only on stocks where at least two insiders had purchased shares in March. From there, we ranked the 10 stocks with the lowest average price per share.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
With each stock, we note the average price per share of these purchases and the stock’s market capitalization.
A scientist in a lab holding a test tube of regenerated cells.
Tenaya Therapeutics, Inc. (NASDAQ:TNYA)
Market Capitalization: $113.81 million
Next on this list of 15 cheapest stocks insiders are buying in March is Tenaya Therapeutics. The South San Francisco, California-based company discovers, develops, and delivers therapies for heart disease in the United States.
For the full year 2024, Tenaya Therapeutics reported a net loss of $111.1 million, or $1.31 per share, compared to a net loss of $124.08 million in 2023. Research and development expenses were $86.7 million, down from $98.0 million the previous year.
As of December 31, 2024, the company held $61.4 million in cash, cash equivalents, and marketable securities, a decrease from $104.6 million as of December 31, 2023. With an additional estimated $48.9 million in net proceeds from the March 2025 public offering, Tenaya expects its current funds will be sufficient to support operations through mid-2026.
Recently, the company announced positive preclinical results for its gene therapy candidate, TN-201, which targets MYBPC3-associated hypertrophic cardiomyopathy (HCM), a common genetic cause of heart disease. TN-201 is designed to deliver a working MYBPC3 gene to heart cells, increasing the MyBP-C protein to help treat or even reverse the disease. Preclinical data showed that TN-201 improved heart function and reversed key symptoms of HCM, such as thickening of the heart’s left ventricle. The therapy is now being tested in a clinical trial, MyPEAK-1, at higher doses.
This month, two insiders bought nearly $50 million worth of Tenaya Therapeutics shares at an average price of $0.70 per share. Currently, the stock trades at $0.70, having declined 51.05% year-to-date and 85.60% over the past 12 months.
According to TipRanks, seven analysts have given an average “Buy” rating to Tenaya Therapeutics stock with a price target of $6.25 per share. The average price target suggests a potential upside of 792.86% from the latest price.
Additionally, Tenaya is one of the 13 penny stocks with insider buying in 2024.
Overall, TNYA ranks 7th on our list of cheapest stocks insiders are buying in March. While we acknowledge the potential of TNYA our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TNYA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
