Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 4.4% on Insider Selling

Key Points

• Taysha Gene Therapies stock fell 4.4% after insider Sukumar Nagendran sold 200,000 shares at an average price of $3.23, decreasing his position by 16.58%.
• Analysts have given Taysha Gene Therapies an average buy rating with a consensus price target of $8.29, with several raising their targets recently.
• The company reported a quarterly EPS of ($0.09), missing analysts' expectations, but had revenue of $1.99 million, exceeding estimates of $1.61 million.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s stock price fell 4.4% on Monday after an insider sold shares in the company. The stock traded as low as $2.97 and last traded at $2.94. 386,568 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 2,949,512 shares. The stock had previously closed at $3.07.

Specifically, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total transaction of $646,000.00. Following the completion of the sale, the insider owned 1,006,439 shares of the company's stock, valued at $3,250,797.97. The trade was a 16.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TSHA. Chardan Capital lifted their price objective on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, July 1st. Bank of America began coverage on Taysha Gene Therapies in a report on Friday, July 11th. They issued a "buy" rating and a $8.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Finally, Canaccord Genuity Group lifted their price objective on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Taysha Gene Therapies has an average rating of "Buy" and a consensus target price of $8.29.

Taysha Gene Therapies Stock Performance

The company has a current ratio of 12.48, a quick ratio of 12.48 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $781.56 million, a PE ratio of -8.46 and a beta of 0.98. The business's 50 day simple moving average is $2.85 and its two-hundred day simple moving average is $2.35.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $1.99 million during the quarter, compared to analysts' expectations of $1.61 million. Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%. Research analysts expect that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Granahan Investment Management LLC increased its stake in 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 buying an additional 4,412 shares in the last quarter. BNP Paribas Financial Markets grew its position in Taysha Gene Therapies by 51.9% in the second quarter. BNP Paribas Financial Markets now owns 18,591 shares of the company's stock worth $43,000 after acquiring an additional 6,350 shares in the last quarter. Prudential Financial Inc. grew its position in Taysha Gene Therapies by 50.5% in the second quarter. Prudential Financial Inc. now owns 22,790 shares of the company's stock worth $53,000 after acquiring an additional 7,650 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Taysha Gene Therapies by 156.5% in the second quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock worth $41,000 after acquiring an additional 10,742 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Taysha Gene Therapies by 27.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 52,527 shares of the company's stock valued at $121,000 after buying an additional 11,407 shares during the period. 77.70% of the stock is currently owned by hedge funds and other 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.