Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 4.7% - Should You Sell?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) shares fell 4.7% on Tuesday . The company traded as low as $2.57 and last traded at $2.52. 273,821 shares traded hands during trading, a decline of 91% from the average session volume of 2,935,982 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSHA. JMP Securities lifted their price target on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a research report on Thursday, May 29th. Canaccord Genuity Group lifted their price target on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Chardan Capital lifted their price target 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. Needham & Company LLC reissued a "buy" rating and set a $8.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, July 1st. Finally, Citigroup reissued an "outperform" rating on shares of Taysha Gene Therapies in a research report on Thursday, May 29th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $8.17.

Taysha Gene Therapies Price Performance

The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $551.68 million, a PE ratio of -7.56 and a beta of 0.97. The firm's fifty day simple moving average is $2.58 and its 200-day simple moving average is $1.97.

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

Insider Buying and Selling at Taysha Gene Therapies

In related news, major shareholder Paul B. Manning acquired 750,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was purchased at an average cost of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the acquisition, the insider directly owned 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TSHA. Octagon Capital Advisors LP raised its holdings in shares of Taysha Gene Therapies by 128.6% during the fourth quarter. Octagon Capital Advisors LP now owns 10,450,000 shares of the company's stock valued at $18,078,000 after purchasing an additional 5,877,778 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Taysha Gene Therapies during the fourth quarter valued at approximately $8,650,000. Bank of America Corp DE grew its position in Taysha Gene Therapies by 1,178.9% during the fourth quarter. Bank of America Corp DE now owns 1,710,303 shares of the company's stock valued at $2,959,000 after buying an additional 1,576,568 shares during the period. Norges Bank bought a new stake in Taysha Gene Therapies during the fourth quarter valued at approximately $2,528,000. Finally, Avoro Capital Advisors LLC grew its position in Taysha Gene Therapies by 7.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 19,999,999 shares of the company's stock valued at $34,600,000 after buying an additional 1,349,999 shares during the period. 77.70% of the stock is owned by hedge funds and other institutional investors.

About Taysha Gene Therapies

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.