Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 4.9% - What's Next?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) shares traded down 4.9% during mid-day trading on Friday . The stock traded as low as $2.39 and last traded at $2.45. 3,253,654 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 3,050,439 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JMP Securities raised their price objective on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a "market outperform" rating in a report on Thursday, May 29th. Chardan Capital lifted their target price 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. Citigroup reissued an "outperform" rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. Cantor Fitzgerald restated an "overweight" rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $8.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, June 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Taysha Gene Therapies currently has an average rating of "Buy" and an average target price of $7.57.

Taysha Gene Therapies Price Performance

The stock's 50 day simple moving average is $2.32 and its 200-day simple moving average is $1.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.35 and a current ratio of 5.35. The firm has a market cap of $534.51 million, a price-to-earnings ratio of -7.32 and a beta of 1.04.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted 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 business had revenue of $2.30 million for the quarter, compared to the consensus estimate of $1.48 million. Taysha Gene Therapies had a negative net margin of 1,201.08% and a negative return on equity of 104.93%. During the same period last year, the firm posted ($0.10) earnings per share. Equities research analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Taysha Gene Therapies

In related news, major shareholder Paul B. Manning bought 750,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the acquisition, the insider now owns 2,841,704 shares in the company, valued at approximately $7,814,686. This trade represents a 35.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.78% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors have recently modified their holdings of the company. Octagon Capital Advisors LP boosted its position in Taysha Gene Therapies by 128.6% during the 4th quarter. Octagon Capital Advisors LP now owns 10,450,000 shares of the company's stock worth $18,078,000 after purchasing an additional 5,877,778 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Taysha Gene Therapies in the 4th quarter valued at about $8,650,000. Bank of America Corp DE lifted its holdings in Taysha Gene Therapies by 1,178.9% during the 4th quarter. Bank of America Corp DE now owns 1,710,303 shares of the company's stock worth $2,959,000 after buying an additional 1,576,568 shares during the last quarter. Norges Bank acquired a new position in Taysha Gene Therapies in the fourth quarter worth $2,528,000. Finally, Avoro Capital Advisors LLC grew its position in shares of Taysha Gene Therapies by 7.2% during the 4th 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 last quarter. Institutional investors and hedge funds 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.