Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 4.4% Following 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 dropped 4.4% during trading on Monday after an insider sold shares in the company. The stock traded as low as $2.97 and last traded at $2.94. Approximately 386,568 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,949,512 shares. The stock had previously closed at $3.07.

Specifically, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total value of $646,000.00. Following the completion of the sale, the insider owned 1,006,439 shares of the company's stock, valued at approximately $3,250,797.97. This represents a 16.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

TSHA has been the subject of several recent analyst reports. Bank of America assumed coverage on Taysha Gene Therapies in a report on Friday, July 11th. They issued a "buy" rating and a $8.00 price objective for the company. Chardan Capital raised their price target on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Wells Fargo & Company raised their price target on Taysha Gene Therapies from $7.50 to $8.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. JMP Securities raised their price target on Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a report on Thursday, May 29th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $8.29.

Taysha Gene Therapies Stock Down 3.7%

The firm has a 50 day moving average of $2.81 and a two-hundred day moving average of $2.32. The firm has a market capitalization of $806.12 million, a price-to-earnings ratio of -8.69 and a beta of 0.98. The company has a quick ratio of 12.48, a current ratio of 12.48 and a debt-to-equity ratio of 0.17.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. The firm had revenue of $1.99 million for the quarter, compared to analyst estimates of $1.61 million. As a group, sell-side analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of Taysha Gene Therapies

Hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Taysha Gene Therapies during the first quarter valued at about $760,000. BNP Paribas Financial Markets acquired a new position in shares of Taysha Gene Therapies in the fourth quarter worth approximately $41,000. Millennium Management LLC acquired a new position in shares of Taysha Gene Therapies in the fourth quarter worth approximately $262,000. Octagon Capital Advisors LP lifted its stake in shares of Taysha Gene Therapies by 2.4% in the first quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company's stock worth $14,873,000 after acquiring an additional 250,000 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Taysha Gene Therapies in the fourth quarter worth approximately $40,000. 77.70% of the stock is owned by institutional investors and hedge funds.

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.

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