Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 4.3% - Here's What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) fell 4.3% on Thursday . The company traded as low as $2.35 and last traded at $2.34. 684,220 shares traded hands during trading, a decline of 78% from the average session volume of 3,057,355 shares. The stock had previously closed at $2.44.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TSHA shares. Chardan Capital lifted their price target on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $7.00 price objective on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Canaccord Genuity Group boosted their price target on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $8.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday, June 10th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Taysha Gene Therapies currently has an average rating of "Buy" and a consensus target price of $7.57.

Taysha Gene Therapies Trading Down 1.2%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.35 and a current ratio of 5.35. The stock has a market cap of $517.33 million, a PE ratio of -7.09 and a beta of 1.04. The stock has a fifty day moving average price of $2.39 and a 200 day moving average price of $1.91.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). Taysha Gene Therapies had a negative return on equity of 104.93% and a negative net margin of 1,201.08%. The firm had revenue of $2.30 million for the quarter, compared to the consensus estimate of $1.48 million. During the same period in the previous year, the business earned ($0.10) EPS. Equities analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Paul B. Manning acquired 750,000 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the acquisition, the insider now owns 2,841,704 shares in the company, valued at $7,814,686. The trade was a 35.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of large investors have recently modified their holdings of TSHA. Rhumbline Advisers boosted its holdings in shares of Taysha Gene Therapies by 7.0% in the first quarter. Rhumbline Advisers now owns 205,462 shares of the company's stock valued at $286,000 after acquiring an additional 13,383 shares during the period. Octagon Capital Advisors LP boosted its holdings in Taysha Gene Therapies by 2.4% during the first quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company's stock worth $14,873,000 after buying an additional 250,000 shares in the last quarter. Granahan Investment Management LLC grew its holdings in shares of Taysha Gene Therapies by 0.3% in the 1st quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock worth $2,281,000 after acquiring an additional 4,412 shares during the period. AQR Capital Management LLC increased its position in shares of 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 buying an additional 82,545 shares in the last quarter. Finally, ADAR1 Capital Management LLC grew its position in shares of Taysha Gene Therapies by 500.0% in the first quarter. ADAR1 Capital Management LLC now owns 1,066,309 shares of the company's stock valued at $1,482,000 after purchasing an additional 888,602 shares during the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.