Taysha Gene Therapies (NASDAQ:TSHA) Shares Down 11.9% - Here's What Happened

Key Points

• Taysha Gene Therapies (NASDAQ:TSHA) shares fell by 11.9%, closing at $4.48, with a trading volume 41% lower than the average.
• Analysts' ratings are mixed, with several brokerage firms maintaining a "buy" rating; the consensus price target is $9.25.
• The company reported a negative net margin of 1,144.97% for the last quarter and a missing EPS estimate of ($0.09).

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) fell 11.9% on Friday . The stock traded as low as $4.55 and last traded at $4.48. 2,265,777 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 3,849,121 shares. The stock had previously closed at $5.08.

Analyst Ratings Changes

Several brokerages recently issued reports on TSHA. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Taysha Gene Therapies in a research report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Taysha Gene Therapies in a report on Wednesday, October 8th. Chardan Capital reaffirmed a "buy" rating and set a $12.00 target price on shares of Taysha Gene Therapies in a research report on Friday. Robert W. Baird lifted their price target on shares of Taysha Gene Therapies from $7.00 to $12.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. Finally, Bank of America began coverage on shares of Taysha Gene Therapies in a research report on Friday, July 11th. They issued a "buy" rating and a $8.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.25.

Taysha Gene Therapies Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 12.48 and a current ratio of 12.48. The firm has a market capitalization of $1.24 billion, a P/E ratio of -13.30 and a beta of 0.99. The business has a 50 day simple moving average of $3.43 and a two-hundred day simple moving average of $2.67.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $1.99 million for the quarter, compared to the consensus estimate 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%. On average, sell-side analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In related news, insider Sukumar Nagendran sold 200,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was 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 $3,250,797.97. The trade was a 16.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.78% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds have recently bought and sold shares of TSHA. Marex Group plc purchased a new stake in Taysha Gene Therapies in the second quarter worth approximately $29,000. E Fund Management Co. Ltd. bought a new stake in Taysha Gene Therapies during the 2nd quarter worth approximately $31,000. ST Germain D J Co. Inc. raised its stake in Taysha Gene Therapies by 81.8% during the 3rd quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company's stock worth $32,000 after acquiring an additional 4,333 shares during the period. May Hill Capital LLC purchased a new stake in shares of Taysha Gene Therapies in the second quarter worth $37,000. Finally, Tower Research Capital LLC TRC increased its stake 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 worth $41,000 after purchasing an additional 10,742 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, 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.

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