Insider Selling: Taysha Gene Therapies (NASDAQ:TSHA) Insider Sells 200,000 Shares of Stock

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction on Monday, January 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the insider directly owned 1,006,439 shares of the company’s stock, valued at approximately $4,740,327.69. This trade 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 is available at the SEC website.

Sukumar Nagendran also recently made the following trade(s):

• On Friday, November 28th, Sukumar Nagendran sold 110,125 shares of Taysha Gene Therapies stock. The shares were sold at an average price of $4.75, for a total transaction of $523,093.75.
• On Monday, December 1st, Sukumar Nagendran sold 260,047 shares of Taysha Gene Therapies stock. The stock was sold at an average price of $4.51, for a total value of $1,172,811.97.

Taysha Gene Therapies Stock Performance

NASDAQ TSHA traded up $0.14 on Wednesday, reaching $5.04. The stock had a trading volume of 2,323,955 shares, compared to its average volume of 2,890,317. Taysha Gene Therapies, Inc. has a 1-year low of $1.05 and a 1-year high of $6.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.48 and a quick ratio of 10.48. The company has a market cap of $1.38 billion, a P/E ratio of -15.27 and a beta of 1.02. The firm has a fifty day moving average of $4.95 and a two-hundred day moving average of $3.92.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 67.26%. On average, equities research analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. bought a new stake in Taysha Gene Therapies in the fourth quarter valued at approximately $1,697,000. SG Americas Securities LLC raised its stake in Taysha Gene Therapies by 2,271.8% during the fourth quarter. SG Americas Securities LLC now owns 781,474 shares of the company’s stock worth $4,298,000 after buying an additional 748,525 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Taysha Gene Therapies by 33.1% in the third quarter. JPMorgan Chase & Co. now owns 296,244 shares of the company’s stock valued at $969,000 after buying an additional 73,595 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Taysha Gene Therapies during the third quarter valued at $74,000. Finally, Sender Co & Partners Inc. bought a new stake in Taysha Gene Therapies during the third quarter valued at $89,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSHA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price target on shares of Taysha Gene Therapies in a report on Friday, November 14th. JMP Securities set a $8.00 target price on Taysha Gene Therapies in a research report on Wednesday, November 5th. Robert W. Baird lifted their price target 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. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Taysha Gene Therapies in a research note on Friday, October 17th. Finally, Wells Fargo & Company boosted their price objective on Taysha Gene Therapies from $8.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.67.

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.