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

Key Points

• Insider sale: Taysha Gene Therapies insider Sukumar Nagendran sold 200,000 shares at an average price of $6.24, totaling about $1.25 million. The sale reduced his holdings by 17.6% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Stock and earnings update: TSHA traded down to $6.34 on Friday, with the company valuing at about $1.82 billion. The biotech recently reported a quarterly loss of $0.12 per share, slightly worse than analyst expectations.
• Wall Street sentiment remains positive: Analysts still largely rate the stock a Buy, with a consensus price target of $12.62. Recent firms including Needham, Canaccord, and Citizens JMP maintained or raised bullish ratings and targets.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $6.24, for a total value of $1,248,000.00. Following the sale, the insider directly owned 936,410 shares in the company, valued at approximately $5,843,198.40. The trade was a 17.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Taysha Gene Therapies Price Performance

Taysha Gene Therapies stock traded down $0.23 during midday trading on Friday, reaching $6.34. 2,850,052 shares of the company were exchanged, compared to its average volume of 3,779,284. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -16.68 and a beta of 1.17. Taysha Gene Therapies, Inc. has a 1 year low of $2.34 and a 1 year high of $7.30. 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 firm's 50-day simple moving average is $6.15 and its 200-day simple moving average is $5.35.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings data 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). On average, analysts anticipate that Taysha Gene Therapies, Inc. will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Marex Group plc bought a new stake in Taysha Gene Therapies in the second quarter valued at $29,000. E Fund Management Co. Ltd. bought a new position in shares of Taysha Gene Therapies during the 2nd quarter valued at about $31,000. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Taysha Gene Therapies in the third quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its stake in Taysha Gene Therapies by 156.5% in 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Taysha Gene Therapies by 143.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company's stock worth $43,000 after acquiring an additional 4,607 shares in the last quarter. Institutional investors and hedge funds own 77.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TSHA shares. Needham & Company LLC restated a "buy" rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, June 30th. Canaccord Genuity Group raised their price objective on Taysha Gene Therapies from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, April 6th. Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $11.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, July 2nd. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $12.62.

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.

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