Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 6.6% – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price dropped 6.6% during mid-day trading on Thursday . The stock traded as low as $6.02 and last traded at $5.9850. 916,455 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 2,877,365 shares. The stock had previously closed at $6.41.

Wall Street Analyst Weigh In

TSHA has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a report on Wednesday, June 24th. Bank of America boosted their price objective on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. The Goldman Sachs Group increased their price objective on Taysha Gene Therapies from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen lowered Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Citigroup reiterated an “outperform” rating on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Taysha Gene Therapies currently has an average rating of “Buy” and a consensus price target of $12.77.

Taysha Gene Therapies Stock Performance

The company has a 50-day moving average price of $6.09 and a two-hundred day moving average price of $5.47. The company has a current ratio of 14.04, a quick ratio of 14.04 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.73 billion, a P/E ratio of -14.25 and a beta of 1.22.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its earnings results on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). On average, equities analysts forecast that Taysha Gene Therapies, Inc. will post -0.49 earnings per share for the current year.

Insider Activity

In other news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the completion of the sale, the insider owned 936,410 shares of the company’s stock, valued at $5,843,198.40. This trade represents a 17.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Taysha Gene Therapies by 141.5% in the 1st quarter. Renaissance Technologies LLC now owns 413,203 shares of the company’s stock worth $1,847,000 after acquiring an additional 242,103 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Taysha Gene Therapies by 53.0% during the 1st quarter. Rice Hall James & Associates LLC now owns 1,944,671 shares of the company’s stock worth $8,693,000 after purchasing an additional 674,026 shares in the last quarter. Seven Fleet Capital Management LP raised its stake in shares of Taysha Gene Therapies by 274.2% in the first quarter. Seven Fleet Capital Management LP now owns 625,708 shares of the company’s stock worth $2,797,000 after purchasing an additional 458,485 shares during the last quarter. ADAR1 Capital Management LLC raised its stake in shares of 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 purchasing an additional 483,620 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Taysha Gene Therapies in the fourth quarter valued at approximately $20,471,000. Institutional investors and hedge funds 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 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.