Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 5.9% – What’s Next?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) traded down 5.9% on Tuesday . The stock traded as low as $2.69 and last traded at $2.64. 965,092 shares were traded during mid-day trading, a decline of 68% from the average session volume of 3,033,330 shares. The stock had previously closed at $2.80.

Analyst Ratings Changes

TSHA has been the topic of a number of research reports. Canaccord Genuity Group raised their price objective on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research report on Monday, April 28th. JMP Securities raised their price target on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 29th. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday. Finally, Chardan Capital increased their price objective on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Taysha Gene Therapies presently has an average rating of “Buy” and a consensus price target of $7.57.

Taysha Gene Therapies Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 5.51 and a quick ratio of 5.51. The firm has a market capitalization of $563.49 million, a price-to-earnings ratio of 4.17 and a beta of 1.04. The stock has a 50 day moving average price of $2.07 and a two-hundred day moving average price of $1.93.

Taysha Gene Therapies (NASDAQ:TSHA) last released its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $2.30 million during the quarter, compared to the consensus estimate of $1.48 million. Taysha Gene Therapies had a negative return on equity of 106.36% and a negative net margin of 229.67%. During the same period in the previous year, the company posted ($0.10) EPS. As a group, analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

Insider Activity at Taysha Gene Therapies

In related news, major shareholder Paul B. Manning acquired 750,000 shares of Taysha Gene Therapies stock in a transaction dated Friday, May 30th. The shares were acquired at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the completion of the purchase, the insider now owns 2,841,704 shares in the company, valued at approximately $7,814,686. The trade was a 35.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of hedge funds have recently bought and sold shares of TSHA. Ground Swell Capital LLC acquired a new position in shares of Taysha Gene Therapies during the fourth quarter worth about $25,000. Cibc World Markets Corp purchased a new position in Taysha Gene Therapies in the fourth quarter worth approximately $28,000. E Fund Management Co. Ltd. acquired a new position in Taysha Gene Therapies during the 4th quarter worth approximately $31,000. Hsbc Holdings PLC grew its holdings in Taysha Gene Therapies by 65.6% during the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company’s stock worth $36,000 after acquiring an additional 8,076 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of Taysha Gene Therapies in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

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.