Taysha Gene Therapies (NASDAQ:TSHA) Insider Sukumar Nagendran Sells 200,000 Shares

Key Points

• Sukumar Nagendran sold 200,000 shares of Taysha on April 10 at an average price of $4.46 (≈$892,000), and the transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
• Following the sale his direct stake fell to 1,136,410 shares, a 14.97% reduction in ownership; he also sold additional blocks in January (26,918 and 89,132 shares).
• Despite the insider selling, analysts remain largely bullish on TSHA with a consensus "Buy" rating and a target price of $11.64, while the stock trades around $4.42 and the company recently reported quarterly results that beat estimates.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) insider Sukumar Nagendran sold 200,000 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $4.46, for a total value of $892,000.00. Following the completion of the sale, the insider directly owned 1,136,410 shares of the company's stock, valued at approximately $5,068,388.60. This represents a 14.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sukumar Nagendran also recently made the following trade(s):

• On Monday, January 26th, Sukumar Nagendran sold 26,918 shares of Taysha Gene Therapies stock. The shares were sold at an average price of $4.61, for a total value of $124,091.98.
• On Friday, January 23rd, Sukumar Nagendran sold 89,132 shares of Taysha Gene Therapies stock. The shares were sold at an average price of $4.75, for a total value of $423,377.00.

Taysha Gene Therapies Stock Performance

TSHA stock traded down $0.07 during midday trading on Monday, reaching $4.42. The company had a trading volume of 1,583,658 shares, compared to its average volume of 2,666,011. The company has a quick ratio of 12.23, a current ratio of 12.23 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $4.54 and a 200 day moving average price of $4.71. Taysha Gene Therapies, Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $6.02. The firm has a market capitalization of $1.27 billion, a PE ratio of -13.00 and a beta of 1.10.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.03. The company had revenue of $5.49 million during the quarter, compared to analyst estimates of $1.89 million. Analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSHA shares. Canaccord Genuity Group boosted their price objective on Taysha Gene Therapies from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Truist Financial upgraded Taysha Gene Therapies to a "strong-buy" rating in a research report on Wednesday, March 25th. Needham & Company LLC boosted their target price on Taysha Gene Therapies from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Raymond James Financial reissued a "strong-buy" rating and set a $13.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, January 6th. Finally, Wells Fargo & Company boosted their target price on Taysha Gene Therapies from $8.00 to $11.00 and gave the stock an "overweight" rating in a report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $11.64.

Institutional Investors Weigh In On Taysha Gene Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marex Group plc bought a new position in shares of 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 in the second quarter valued at $31,000. ST Germain D J Co. Inc. increased its holdings in shares of Taysha Gene Therapies by 81.8% in the third quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company's stock valued at $32,000 after buying an additional 4,333 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Taysha Gene Therapies in the third quarter valued at $40,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Taysha Gene Therapies by 156.5% in the second quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock valued at $41,000 after buying an additional 10,742 shares in the last quarter. Institutional investors 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.

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