Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 5.9% - What's Next?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s stock price dropped 5.9% during trading on Tuesday . The stock traded as low as $2.69 and last traded at $2.64. Approximately 965,092 shares changed hands during trading, a decline of 68% from the average daily volume of 3,033,330 shares. The stock had previously closed at $2.80.

Analysts Set New Price Targets

Several research analysts recently commented on TSHA shares. Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Chardan Capital boosted their price target on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. JMP Securities raised their target price on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a research note on Thursday, May 29th. Cantor Fitzgerald restated an "overweight" rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Finally, Canaccord Genuity Group increased their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $7.57.

Taysha Gene Therapies Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51. The firm's 50-day moving average price is $2.15 and its two-hundred day moving average price is $1.94. The stock has a market cap of $545.24 million, a price-to-earnings ratio of 4.03 and a beta of 1.04.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.48 million. Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. During the same period in the previous year, the firm earned ($0.10) EPS. On average, analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Taysha Gene Therapies

A number of institutional investors have recently added to or reduced their stakes in TSHA. Ground Swell Capital LLC acquired a new position in Taysha Gene Therapies during the fourth quarter valued at approximately $25,000. Cibc World Markets Corp acquired a new position in Taysha Gene Therapies during the 4th quarter worth approximately $28,000. E Fund Management Co. Ltd. acquired a new stake in Taysha Gene Therapies in the fourth quarter valued at approximately $31,000. Hsbc Holdings PLC raised its stake in shares of Taysha Gene Therapies by 65.6% during the fourth 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, AXQ Capital LP acquired a new stake in Taysha Gene Therapies during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 77.70% of the company's stock.

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.