Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down – Should You Sell?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.43, but opened at $6.04. Taysha Gene Therapies shares last traded at $6.0750, with a volume of 93,707 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on TSHA. BMO Capital Markets boosted their target price 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. Pivotal Research set a $14.00 price target on shares of Taysha Gene Therapies in a research 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 company an “outperform” rating in a report on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, June 30th. Finally, Citigroup reissued an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Taysha Gene Therapies presently has a consensus rating of “Buy” and an average price target of $12.77.

Taysha Gene Therapies Stock Performance

The firm’s 50-day moving average price is $6.18 and its two-hundred day moving average price is $5.54. The firm has a market capitalization of $1.98 billion, a PE ratio of -14.50 and a beta of 1.22. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13.

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

Insiders Place Their Bets

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 directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.48% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Several hedge funds and other institutional investors have recently modified their holdings of TSHA. Vestal Point Capital LP grew its holdings in shares of Taysha Gene Therapies by 150.0% during the fourth quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock valued at $75,625,000 after buying an additional 8,250,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Taysha Gene Therapies by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 13,692,739 shares of the company’s stock worth $75,310,000 after acquiring an additional 309,031 shares in the last quarter. Vanguard Group Inc. lifted its stake in Taysha Gene Therapies by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 13,267,805 shares of the company’s stock worth $72,973,000 after acquiring an additional 418,192 shares in the last quarter. Octagon Capital Advisors LP boosted its position in Taysha Gene Therapies by 17.7% during the 2nd quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock worth $29,089,000 after acquiring an additional 1,892,500 shares during the period. Finally, State Street Corp boosted its position in Taysha Gene Therapies by 49.1% during the 4th quarter. State Street Corp now owns 10,790,084 shares of the company’s stock worth $59,345,000 after acquiring an additional 3,553,619 shares during the period. Institutional investors and hedge funds 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 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.