Taysha Gene Therapies (NASDAQ:TSHA) Stock Falls 5.4% – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price was down 5.4% during mid-day trading on Monday. The stock traded as low as $4.40 and last traded at $4.3810. 775,537 shares were traded during trading, a decline of 74% from the average session volume of 2,967,264 shares. The stock had previously closed at $4.63.

Analysts Set New Price Targets

A number of research firms have weighed in on TSHA. Citigroup reissued an “outperform” rating on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Robert W. Baird upped their price objective on shares of Taysha Gene Therapies from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Wolfe Research assumed coverage on shares of Taysha Gene Therapies in a research report on Thursday, September 17th. They set an “outperform” rating for the company. Bank of America boosted their target price on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.77.

Taysha Gene Therapies Price Performance

The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -10.45 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.76 and a current ratio of 17.76. The business has a 50 day simple moving average of $5.58 and a 200-day simple moving average of $5.69.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Equities research analysts expect that Taysha Gene Therapies, Inc. will post -0.52 earnings per share for the current year.

Insider Activity

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the sale, the insider owned 936,410 shares of the company’s stock, valued at $5,843,198.40. The trade was a 17.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Taysha Gene Therapies during the first quarter valued at about $50,000. Y Intercept Hong Kong Ltd bought a new position in shares of Taysha Gene Therapies in the first quarter valued at approximately $51,000. Principal Financial Group Inc. boosted its position in shares of Taysha Gene Therapies by 26.2% in the first quarter. Principal Financial Group Inc. now owns 16,185 shares of the company’s stock valued at $72,000 after acquiring an additional 3,362 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Taysha Gene Therapies by 698.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 25,577 shares of the company’s stock valued at $141,000 after acquiring an additional 22,373 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Taysha Gene Therapies by 34.5% during the first quarter. Cetera Investment Advisers now owns 28,450 shares of the company’s stock valued at $127,000 after acquiring an additional 7,296 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for severe monogenic diseases of the central nervous system. The company uses adeno-associated virus-based delivery technologies and other genetic medicine approaches to target conditions with limited or no approved treatment options.

Taysha’s research and development programs have included TSHA-102, an investigational gene therapy being developed for Rett syndrome, as well as programs for other rare neurological disorders.