Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 6.2% – What’s Next?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price fell 6.2% during mid-day trading on Friday . The company traded as low as $4.79 and last traded at $4.7760. 1,137,663 shares were traded during mid-day trading, a decline of 58% from the average session volume of 2,722,284 shares. The stock had previously closed at $5.09.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSHA. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Monday, December 29th. Robert W. Baird increased their price objective on Taysha Gene Therapies from $7.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Taysha Gene Therapies in a research report on Friday, November 14th. Finally, Wells Fargo & Company upped their target price on shares of Taysha Gene Therapies from $8.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.67.

Taysha Gene Therapies Price Performance

The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -14.17 and a beta of 1.02. The company has a quick ratio of 10.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average is $5.06 and its 200-day moving average is $4.02.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings data 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 67.26% and a negative net margin of 1,144.97%. Equities research analysts expect that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the sale, the insider owned 1,006,439 shares of the company’s stock, valued at approximately $4,740,327.69. This represents a 16.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 570,172 shares of company stock valued at $2,637,906. 3.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. B Group Inc. lifted its position in Taysha Gene Therapies by 43.4% during the 2nd quarter. B Group Inc. now owns 1,800,556 shares of the company’s stock worth $4,159,000 after buying an additional 545,000 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in Taysha Gene Therapies in the 3rd quarter valued at about $1,890,000. Affinity Asset Advisors LLC bought a new position in shares of Taysha Gene Therapies in the second quarter worth about $462,000. Jefferies Financial Group Inc. lifted its position in shares of Taysha Gene Therapies by 4,105.3% during the second quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock worth $23,825,000 after purchasing an additional 10,068,479 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Taysha Gene Therapies during the second quarter worth approximately $186,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.

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.