Taysha Gene Therapies, Inc. (NASDAQ:TSHA) Short Interest Update

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 20,810,000 shares, a growth of 54.7% from the June 30th total of 13,450,000 shares. Based on an average daily volume of 2,620,000 shares, the days-to-cover ratio is presently 7.9 days.

Taysha Gene Therapies Price Performance

Taysha Gene Therapies stock traded up $0.03 during trading hours on Friday, hitting $2.30. 1,087,823 shares of the company traded hands, compared to its average volume of 2,903,636. The firm has a market cap of $430.15 million, a P/E ratio of -4.69 and a beta of 0.41. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $2.85 and its two-hundred day simple moving average is $2.50. Taysha Gene Therapies has a 1-year low of $0.62 and a 1-year high of $4.32.

Taysha Gene Therapies (NASDAQ:TSHA) last released its earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $3.41 million for the quarter, compared to analysts’ expectations of $3.70 million. Taysha Gene Therapies had a negative net margin of 833.60% and a negative return on equity of 782.81%. During the same quarter last year, the company earned ($0.28) EPS. As a group, analysts forecast that Taysha Gene Therapies will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Paul B. Manning bought 1,333,333 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was acquired at an average cost of $2.25 per share, for a total transaction of $2,999,999.25. Following the completion of the purchase, the insider now owns 1,333,333 shares of the company’s stock, valued at $2,999,999.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TSHA. Vanguard Group Inc. boosted its holdings in shares of Taysha Gene Therapies by 235.2% in the third quarter. Vanguard Group Inc. now owns 5,327,864 shares of the company’s stock worth $16,836,000 after buying an additional 3,738,616 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Taysha Gene Therapies in the fourth quarter worth approximately $38,000. Williams & Novak LLC purchased a new stake in shares of Taysha Gene Therapies in the fourth quarter worth approximately $80,000. Howard Capital Management Inc. purchased a new stake in shares of Taysha Gene Therapies in the fourth quarter worth approximately $25,000. Finally, Quantum Private Wealth LLC lifted its position in shares of Taysha Gene Therapies by 11.1% in the fourth quarter. Quantum Private Wealth LLC now owns 639,520 shares of the company’s stock worth $1,132,000 after purchasing an additional 64,140 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on TSHA. Piper Sandler reduced their price objective on shares of Taysha Gene Therapies from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. JMP Securities reiterated a “market outperform” rating and set a $5.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, June 20th. Chardan Capital reiterated a “buy” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday, June 18th. Finally, BMO Capital Markets assumed coverage on shares of Taysha Gene Therapies in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective on the stock. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $6.60.

About Taysha Gene Therapies

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.