Insider Selling: Taysha Gene Therapies (NASDAQ:TSHA) Insider Sells 200,000 Shares of Stock

Key Points

• Sukumar Nagendran, an insider at Taysha Gene Therapies, sold 200,000 shares of stock at an average price of $3.23, totaling $646,000, decreasing his ownership by 16.58%.
• Taysha Gene Therapies' stock recently fell 5.2% to $3.07, with its 12-month trading range being $1.05 to $3.40.
• Analysts currently have a consensus rating of "Buy" for Taysha Gene Therapies, with a price target averaging $8.29.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total transaction of $646,000.00. Following the transaction, the insider owned 1,006,439 shares in the company, valued at approximately $3,250,797.97. This trade represents a 16.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Taysha Gene Therapies Price Performance

NASDAQ:TSHA traded up $0.06 during trading hours on Wednesday, hitting $2.90. 3,557,061 shares of the stock traded hands, compared to its average volume of 3,376,615. The stock has a 50 day moving average price of $2.84 and a 200 day moving average price of $2.34. Taysha Gene Therapies, Inc. has a 1 year low of $1.05 and a 1 year high of $3.40. The company has a market cap of $791.12 million, a price-to-earnings ratio of -8.53 and a beta of 0.98. The company has a quick ratio of 12.48, a current ratio of 12.48 and a debt-to-equity ratio of 0.17.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). The company had revenue of $1.99 million for the quarter, compared to analysts' expectations of $1.61 million. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. Sell-side analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Marex Group plc purchased a new position in Taysha Gene Therapies in the 2nd quarter valued at about $29,000. E Fund Management Co. Ltd. acquired a new position in Taysha Gene Therapies in the 2nd quarter valued at about $31,000. May Hill Capital LLC purchased a new position in Taysha Gene Therapies in the second quarter worth approximately $37,000. Tower Research Capital LLC TRC grew its holdings in shares of Taysha Gene Therapies by 156.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock worth $41,000 after purchasing an additional 10,742 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Taysha Gene Therapies by 51.9% during the second quarter. BNP Paribas Financial Markets now owns 18,591 shares of the company's stock valued at $43,000 after acquiring an additional 6,350 shares during the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America started coverage on Taysha Gene Therapies in a research report on Friday, July 11th. They set a "buy" rating and a $8.00 price objective on the stock. Citigroup reissued an "outperform" rating on shares of Taysha Gene Therapies in a research report on Thursday, May 29th. Canaccord Genuity Group upped their target price on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Chardan Capital increased their price objective on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company boosted their target price on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $8.29.

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.