Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 4.5% - Time to Sell?

Key Points

• Taysha Gene Therapies shares fell 4.5% to $3.11, with trading volume declining by 88% compared to the average, indicating a significant drop in investor interest.
• Several brokerages maintain a "buy" rating for Taysha, with target prices ranging from $8.00 to $11.00, suggesting optimism about future performance amidst its current stock decline.
• Insider trading activity was observed as insider Sukumar Nagendran sold 200,000 shares, decreasing their ownership by 16.58%, which could impact investor sentiment.

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) fell 4.5% during trading on Monday . The stock traded as low as $3.11 and last traded at $3.11. 353,905 shares were traded during trading, a decline of 88% from the average session volume of 3,029,677 shares. The stock had previously closed at $3.25.

Analysts Set New Price Targets

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

Taysha Gene Therapies Trading Down 3.5%

The company has a debt-to-equity ratio of 0.17, a current ratio of 12.48 and a quick ratio of 12.48. The stock has a market capitalization of $855.23 million, a price-to-earnings ratio of -9.22 and a beta of 0.98. The business has a 50 day simple moving average of $2.90 and a 200-day simple moving average of $2.41.

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

Insider Buying and Selling at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the company's 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 transaction, the insider directly owned 1,006,439 shares of the company's stock, valued at $3,250,797.97. This represents a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Octagon Capital Advisors LP boosted its position in Taysha Gene Therapies by 17.7% during the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company's stock valued at $29,089,000 after purchasing an additional 1,892,500 shares during the last quarter. Jefferies Financial Group Inc. boosted its position in Taysha Gene Therapies by 4,105.3% during the second quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company's stock valued at $23,825,000 after purchasing an additional 10,068,479 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Taysha Gene Therapies in the second quarter valued at approximately $11,178,000. Tybourne Capital Management HK Ltd. raised its stake in Taysha Gene Therapies by 10.7% in the second quarter. Tybourne Capital Management HK Ltd. now owns 4,095,000 shares of the company's stock valued at $9,459,000 after buying an additional 395,000 shares during the period. Finally, Geode Capital Management LLC raised its stake in Taysha Gene Therapies by 3.5% in the second quarter. Geode Capital Management LLC now owns 3,793,572 shares of the company's stock valued at $8,765,000 after buying an additional 128,840 shares during the period. 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.

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.