Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down - Should You Sell?

Key Points

• Taysha Gene Therapies shares fell 5.4%, opening at $6.04 versus a prior close of $6.43. The company recently missed quarterly EPS expectations, reporting a loss of $0.13 per share compared with the $0.11 consensus estimate.
• Despite the decline, analysts remain broadly bullish: the stock has a consensus “Buy” rating and an average price target of $12.77, roughly double its reported trading price.
• Institutional investors own 77.7% of the company and several increased their positions, while an insider sold 200,000 shares under a pre-arranged Rule 10b5-1 plan. Taysha is developing gene therapies for rare central nervous system diseases.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.43, but opened at $6.04. Taysha Gene Therapies shares last traded at $6.0750, with a volume of 93,707 shares changing hands.

Wall Street Analysts Forecast Growth

TSHA has been the topic of a number of recent research reports. Pivotal Research set a $14.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. The Goldman Sachs Group increased their price objective on shares of Taysha Gene Therapies from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered Taysha Gene Therapies from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given 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 an average target price of $12.77.

Taysha Gene Therapies Trading Down 5.4%

The company has a market cap of $1.98 billion, a price-to-earnings ratio of -14.48 and a beta of 1.22. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13. The business's fifty day simple moving average is $6.16 and its two-hundred day simple moving average is $5.53.

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

Insider Activity

In related news, insider Sukumar Nagendran sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the transaction, the insider owned 936,410 shares in the company, valued at $5,843,198.40. This trade represents a 17.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Taysha Gene Therapies

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in Taysha Gene Therapies by 141.5% in the 1st quarter. Renaissance Technologies LLC now owns 413,203 shares of the company's stock valued at $1,847,000 after purchasing an additional 242,103 shares during the last quarter. Seven Fleet Capital Management LP boosted its stake in shares of Taysha Gene Therapies by 274.2% during the first quarter. Seven Fleet Capital Management LP now owns 625,708 shares of the company's stock worth $2,797,000 after buying an additional 458,485 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of Taysha Gene Therapies by 53.0% during the first quarter. Rice Hall James & Associates LLC now owns 1,944,671 shares of the company's stock worth $8,693,000 after buying an additional 674,026 shares during the period. ADAR1 Capital Management LLC grew its holdings 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 worth $13,318,000 after buying an additional 483,620 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Taysha Gene Therapies during the fourth quarter worth about $20,471,000. 77.70% of the stock is owned by institutional investors and hedge funds.

About Taysha Gene Therapies

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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