Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 5% – What’s Next?

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) dropped 5% during trading on Tuesday. The company traded as low as $3.94 and last traded at $3.9350. Approximately 199,111 shares traded hands during trading, a decline of 93% from the average daily volume of 3,012,667 shares. The stock had previously closed at $4.14.

Wall Street Analysts Forecast Growth

TSHA has been the subject of several research reports. BMO Capital Markets lifted their price target on Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Monday, September 21st. Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday, June 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $11.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $12.77.

Taysha Gene Therapies Stock Performance

The company’s 50-day moving average is $5.46 and its two-hundred day moving average is $5.69. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.23 billion, a P/E ratio of -9.00 and a beta of 1.19.

Taysha Gene Therapies (NASDAQ:TSHA) last posted 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 analysts predict that Taysha Gene Therapies, Inc. will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Polar Capital Holdings Plc increased its holdings in Taysha Gene Therapies by 49.8% during the 4th quarter. Polar Capital Holdings Plc now owns 7,931,403 shares of the company’s stock worth $43,623,000 after acquiring an additional 2,637,524 shares during the period. Wellington Management Group LLP raised its stake in shares of Taysha Gene Therapies by 534.7% during the second quarter. Wellington Management Group LLP now owns 3,975,605 shares of the company’s stock valued at $27,074,000 after acquiring an additional 3,349,244 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Taysha Gene Therapies in the 4th quarter worth about $20,471,000. ADAR1 Capital Management LLC raised its stake in Taysha Gene Therapies by 19.4% in the first quarter. ADAR1 Capital Management LLC now owns 2,979,429 shares of the company’s stock worth $13,318,000 after buying an additional 483,620 shares in the last quarter. Finally, Seven Fleet Capital Management LP raised its position in shares of Taysha Gene Therapies by 140.4% in the 2nd quarter. Seven Fleet Capital Management LP now owns 1,504,400 shares of the company’s stock worth $9,940,000 after acquiring an additional 878,692 shares in the last quarter. 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.