Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down Following Weak Earnings

Key Points

• Taysha Gene Therapies shares fell 5.1%, opening at $6.13 after the company reported quarterly EPS of ($0.13), missing the consensus estimate of ($0.11).
• Despite the earnings miss, analysts maintain a consensus “Buy” rating with an average price target of $12.77; recent targets range as high as $15.
• Insider Sukumar Nagendran sold 200,000 shares for approximately $1.25 million under a Rule 10b5-1 plan, while institutional investors and hedge funds own 77.7% of the company.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $6.68, but opened at $6.13. Taysha Gene Therapies shares last traded at $6.3850, with a volume of 581,888 shares traded.

The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02).

Wall Street Analysts Forecast Growth

TSHA has been the subject of a number of analyst reports. Robert W. Baird boosted their price objective on Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Taysha Gene Therapies in a research note on Wednesday, June 24th. Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Wall Street Zen cut shares of Taysha Gene Therapies from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, BMO Capital Markets increased their price objective on shares of Taysha Gene Therapies from $10.00 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $12.77.

Insider Buying and Selling at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the business's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the completion of the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.48% of the company's stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in Taysha Gene Therapies by 325.6% in the first quarter. AQR Capital Management LLC now owns 107,899 shares of the company's stock valued at $150,000 after acquiring an additional 82,545 shares in the last quarter. Rhumbline Advisers increased its position in shares of Taysha Gene Therapies by 13.5% during the second quarter. Rhumbline Advisers now owns 233,256 shares of the company's stock worth $539,000 after purchasing an additional 27,794 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Taysha Gene Therapies by 50.5% in the 2nd quarter. Prudential Financial Inc. now owns 22,790 shares of the company's stock valued at $53,000 after purchasing an additional 7,650 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Taysha Gene Therapies by 27.4% in the 2nd quarter. Invesco Ltd. now owns 203,671 shares of the company's stock valued at $470,000 after purchasing an additional 43,772 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Taysha Gene Therapies in the 2nd quarter valued at about $184,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Trading Down 5.1%

The business has a 50-day moving average of $6.08 and a 200-day moving average of $5.47. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -16.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 14.04 and a current ratio of 14.04.

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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