Taysha Gene Therapies (NASDAQ:TSHA) Reaches New 52-Week Low - Time to Sell?

Key Points

• Taysha Gene Therapies fell 13.5% to a new 52-week low of $3.55, trading well below its 50-day and 200-day moving averages.
• Despite the decline and a quarterly EPS miss, Wall Street analysts remain broadly positive: the stock has a consensus “Buy” rating and a $12.77 price target, though Weiss Ratings maintains a “sell” rating.
• Institutional investors hold 77.7% of the company, with several hedge funds increasing their positions; Taysha is a clinical-stage biotech developing gene therapies for rare central nervous system diseases.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $3.55 and last traded at $3.58, with a volume of 6,115,201 shares trading hands. The stock had previously closed at $4.14.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TSHA shares. BMO Capital Markets raised their price objective on Taysha Gene Therapies from $10.00 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Wolfe Research initiated coverage on Taysha Gene Therapies in a research note on Thursday, September 17th. They issued an "outperform" rating for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Taysha Gene Therapies in a report on Monday, September 21st. Robert W. Baird increased their target price on Taysha Gene Therapies from $12.00 to $15.00 and gave the company an "outperform" rating in a report on Tuesday, June 30th. Finally, Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $12.77.

Taysha Gene Therapies Trading Down 13.5%

The firm has a market cap of $1.17 billion, a P/E ratio of -8.52 and a beta of 1.19. The firm's fifty day moving average is $5.41 and its two-hundred day moving average is $5.69. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). Analysts predict that Taysha Gene Therapies, Inc. will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taysha Gene Therapies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Polar Capital Holdings Plc raised its position in shares of Taysha Gene Therapies by 49.8% in the 4th quarter. Polar Capital Holdings Plc now owns 7,931,403 shares of the company's stock worth $43,623,000 after acquiring an additional 2,637,524 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Taysha Gene Therapies by 534.7% in the 2nd quarter. Wellington Management Group LLP now owns 3,975,605 shares of the company's stock valued at $27,074,000 after purchasing an additional 3,349,244 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Taysha Gene Therapies in the 4th quarter valued at approximately $20,471,000. ADAR1 Capital Management LLC boosted its position in shares of Taysha Gene Therapies by 19.4% during the first quarter. ADAR1 Capital Management LLC now owns 2,979,429 shares of the company's stock valued at $13,318,000 after purchasing an additional 483,620 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Taysha Gene Therapies by 178.5% during the first quarter. SG Americas Securities LLC now owns 2,176,742 shares of the company's stock valued at $9,730,000 after purchasing an additional 1,395,268 shares in the last quarter. Hedge funds and other institutional investors 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 severe monogenic diseases of the central nervous system. The company uses adeno-associated virus-based delivery technologies and other genetic medicine approaches to target conditions with limited or no approved treatment options.

Taysha's research and development programs have included TSHA-102, an investigational gene therapy being developed for Rett syndrome, as well as programs for other rare neurological disorders.

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