Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 6.6% – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) dropped 6.6% during mid-day trading on Thursday . The company traded as low as $6.02 and last traded at $5.9850. 916,455 shares changed hands during trading, a decline of 68% from the average daily volume of 2,877,365 shares. The stock had previously closed at $6.41.

Analyst Ratings Changes

TSHA has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on shares of Taysha Gene Therapies from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, June 30th. Wall Street Zen cut shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Robert W. Baird raised their price objective on Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Finally, Citizens Jmp reiterated a “market outperform” rating and set 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 given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $12.77.

Taysha Gene Therapies Stock Performance

The stock has a 50-day moving average of $6.09 and a 200-day moving average of $5.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 14.04 and a current ratio of 14.04. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -14.25 and a beta of 1.22.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). As a group, analysts anticipate that Taysha Gene Therapies, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity

In related news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $6.24, for a total value of $1,248,000.00. Following the completion of the sale, the insider directly owned 936,410 shares in the company, valued at approximately $5,843,198.40. This trade represents a 17.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.48% of the company’s stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its position in shares of Taysha Gene Therapies by 143.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock valued at $43,000 after purchasing an additional 4,607 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Taysha Gene Therapies during the 4th quarter worth approximately $59,000. Guggenheim Capital LLC acquired a new stake in shares of Taysha Gene Therapies in the 4th quarter valued at $61,000. R Squared Ltd bought a new position in Taysha Gene Therapies in the first quarter valued at about $50,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Taysha Gene Therapies during the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

About Taysha Gene Therapies

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.