Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down After Earnings Miss

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $6.68, but opened at $6.13. Taysha Gene Therapies shares last traded at $6.3850, with a volume of 581,888 shares traded.

The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02).

Analyst Ratings Changes

TSHA has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price objective on shares of Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Robert W. Baird upped their price target on Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. The Goldman Sachs Group boosted their target price on Taysha Gene Therapies from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $11.00 target price on shares of Taysha Gene Therapies in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $12.77.

Insider Activity

In other news, insider Sukumar Nagendran sold 200,000 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the completion of the sale, the insider owned 936,410 shares in the company, valued at approximately $5,843,198.40. The trade was a 17.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Rice Hall James & Associates LLC grew its stake in Taysha Gene Therapies by 53.0% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,944,671 shares of the company’s stock worth $8,693,000 after buying an additional 674,026 shares during the last quarter. Seven Fleet Capital Management LP raised its position in shares of Taysha Gene Therapies by 274.2% during the 1st quarter. Seven Fleet Capital Management LP now owns 625,708 shares of the company’s stock worth $2,797,000 after buying an additional 458,485 shares in the last quarter. ADAR1 Capital Management LLC lifted its position in Taysha Gene Therapies by 19.4% in the first quarter. ADAR1 Capital Management LLC now owns 2,979,429 shares of the company’s stock worth $13,318,000 after purchasing an additional 483,620 shares during the period. Renaissance Technologies LLC boosted its stake in Taysha Gene Therapies by 141.5% during the first quarter. Renaissance Technologies LLC now owns 413,203 shares of the company’s stock valued at $1,847,000 after buying an additional 242,103 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Taysha Gene Therapies during the 4th quarter valued at about $20,471,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

Taysha Gene Therapies Stock Performance

The company has a quick ratio of 14.04, a current ratio of 14.04 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -16.63 and a beta of 1.22. The company’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $5.47.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.