Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 4.3% - Should You Sell?

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

Analysts Set New Price Targets

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

Taysha Gene Therapies Stock Performance

The firm has a market capitalization of $510.89 million, a P/E ratio of -7.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.35 and a quick ratio of 5.35. The firm has a 50-day moving average price of $2.43 and a two-hundred day moving average price of $1.91.

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

Insider Activity

In other news, major shareholder Paul B. Manning purchased 750,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average price of $2.75 per share, for a total transaction of $2,062,500.00. Following the completion of the acquisition, the insider now owns 2,841,704 shares of the company's stock, valued at approximately $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.78% of the company's stock.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of institutional investors and hedge funds have recently bought and sold shares of TSHA. Charles Schwab Investment Management Inc. increased its stake in shares of Taysha Gene Therapies by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company's stock valued at $820,000 after buying an additional 11,390 shares during the period. LPL Financial LLC bought a new position in Taysha Gene Therapies during the 4th quarter worth about $104,000. Adage Capital Partners GP L.L.C. bought a new position in Taysha Gene Therapies during the 4th quarter worth about $8,650,000. Hsbc Holdings PLC increased its position in Taysha Gene Therapies by 65.6% during the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock valued at $36,000 after purchasing an additional 8,076 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in Taysha Gene Therapies during the 4th quarter valued at about $41,000. 77.70% of the stock is owned by institutional investors.

Taysha Gene Therapies Company Profile

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.