Taysha Gene Therapies (NASDAQ:TSHA) Sees Strong Trading Volume – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares saw strong trading volume on Thursday . Approximately 2,690,925 shares traded hands during trading, an increase of 0% from the previous session’s volume of 2,685,224 shares.The stock last traded at $6.4550 and had previously closed at $6.94.

Wall Street Analyst Weigh In

TSHA has been the subject of several analyst reports. Pivotal Research set a $14.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Taysha Gene Therapies in a research note on Monday, June 22nd. Wall Street Zen lowered shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Bank of America upped their price objective on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Taysha Gene Therapies presently has a consensus rating of “Buy” and a consensus target price of $12.38.

Taysha Gene Therapies Stock Performance

The company has a market capitalization of $1.82 billion, a PE ratio of -16.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 14.04 and a current ratio of 14.04. The company has a 50 day moving average price of $6.11 and a 200 day moving average price of $5.29.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Equities analysts forecast that Taysha Gene Therapies, Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $4.46, for a total transaction of $892,000.00. Following the completion of the transaction, the insider directly owned 1,136,410 shares of the company’s stock, valued at $5,068,388.60. This trade represents a 14.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of institutional investors have recently modified their holdings of TSHA. Capricorn Fund Managers Ltd bought a new stake in Taysha Gene Therapies in the fourth quarter valued at about $1,650,000. Ally Bridge Group NY LLC bought a new position in Taysha Gene Therapies during the 3rd quarter worth approximately $6,207,000. Hennion & Walsh Asset Management Inc. bought a new position in Taysha Gene Therapies during the 4th quarter worth approximately $1,697,000. SG Americas Securities LLC lifted its holdings in Taysha Gene Therapies by 2,271.8% during the 4th 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. Finally, Aberdeen Group plc acquired a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $5,616,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

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.