Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 8.5% – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares traded down 8.5% during mid-day trading on Wednesday . The stock traded as low as $3.95 and last traded at $3.9050. 2,567,797 shares traded hands during trading, a decline of 34% from the average session volume of 3,876,439 shares. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Chardan Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Taysha Gene Therapies in a research note on Wednesday. Robert W. Baird boosted their price objective on shares of Taysha Gene Therapies from $7.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Wells Fargo & Company raised their target price on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Bank of America assumed coverage on shares of Taysha Gene Therapies in a research report on Friday, July 11th. They issued a “buy” rating and a $8.00 target price for the company. Finally, Raymond James Financial initiated coverage on shares of Taysha Gene Therapies in a report on Tuesday, October 21st. They issued a “strong-buy” rating and a $13.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Taysha Gene Therapies currently has an average rating of “Moderate Buy” and an average price target of $9.70.

Taysha Gene Therapies Trading Down 7.0%

The firm has a market cap of $1.08 billion, a PE ratio of -11.57 and a beta of 1.00. The company has a quick ratio of 12.48, a current ratio of 12.48 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $3.93 and its two-hundred day simple moving average is $3.03.

Taysha Gene Therapies (NASDAQ:TSHA) last released its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%.The company had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.51 million. On average, sell-side analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total value of $646,000.00. Following the sale, the insider directly owned 1,006,439 shares of the company’s stock, valued at approximately $3,250,797.97. This represents a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.78% of the company’s stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of TSHA. Octagon Capital Advisors LP lifted its position in shares of Taysha Gene Therapies by 17.7% during the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock worth $29,089,000 after purchasing an additional 1,892,500 shares in the last quarter. Jefferies Financial Group Inc. raised its stake in shares of Taysha Gene Therapies by 4,105.3% during the 2nd quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock worth $23,825,000 after buying an additional 10,068,479 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Taysha Gene Therapies in the second quarter valued at $11,178,000. Tybourne Capital Management HK Ltd. raised its stake in Taysha Gene Therapies by 10.7% in the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 4,095,000 shares of the company’s stock valued at $9,459,000 after purchasing an additional 395,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Taysha Gene Therapies by 3.5% in the second quarter. Geode Capital Management LLC now owns 3,793,572 shares of the company’s stock worth $8,765,000 after acquiring an additional 128,840 shares during the last quarter. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.