Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 4.9% - Here's Why

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

Analyst Upgrades and Downgrades

TSHA has been the topic of several research analyst reports. Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, June 10th. Canaccord Genuity Group increased their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald restated an "overweight" rating and issued a $7.00 price objective on shares of Taysha Gene Therapies in a report on Monday, April 28th. Finally, Chardan Capital boosted their price target on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $7.57.

Taysha Gene Therapies Trading Down 2.9%

The stock has a market capitalization of $535.58 million, a price-to-earnings ratio of -7.28 and a beta of 1.04. The firm has a fifty day moving average of $2.29 and a 200-day moving average of $1.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.35 and a current ratio of 5.35.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced 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). The firm had revenue of $2.30 million during the quarter, compared to analyst estimates of $1.48 million. Taysha Gene Therapies had a negative return on equity of 104.93% and a negative net margin of 1,201.08%. During the same period in the previous year, the company earned ($0.10) earnings per share. As a group, equities analysts predict that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Taysha Gene Therapies news, major shareholder Paul B. Manning bought 750,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the acquisition, the insider now directly owns 2,841,704 shares of the company's stock, valued at $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.78% of the company's stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds have recently bought and sold shares of TSHA. Granahan Investment Management LLC raised its stake in Taysha Gene Therapies by 0.3% during the 1st quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock valued at $2,281,000 after purchasing an additional 4,412 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Taysha Gene Therapies by 65.6% in the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock valued at $36,000 after buying an additional 8,076 shares during the period. Virtus ETF Advisers LLC raised its holdings in Taysha Gene Therapies by 43.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 31,597 shares of the company's stock worth $55,000 after purchasing an additional 9,494 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Taysha Gene Therapies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company's stock valued at $6,182,000 after buying an additional 9,591 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Taysha Gene Therapies by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company's stock worth $820,000 after buying an additional 11,390 shares during the last quarter. 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.

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