Taysha Gene Therapies (NASDAQ:TSHA) Releases Earnings Results, Misses Expectations By $0.02 EPS

Taysha Gene Therapies (NASDAQ:TSHA) announced its quarterly earnings results on Tuesday. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02), Zacks reports.

Taysha Gene Therapies Stock Up 4.9%

TSHA stock traded up $0.31 during midday trading on Tuesday, hitting $6.68. The company’s stock had a trading volume of 4,959,681 shares, compared to its average volume of 2,869,158. The company’s fifty day moving average price is $6.06 and its 200 day moving average price is $5.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 14.04 and a quick ratio of 14.04. Taysha Gene Therapies has a twelve month low of $2.69 and a twelve month high of $7.30. The stock has a market capitalization of $1.92 billion, a P/E ratio of -17.58 and a beta of 1.22.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citizens Jmp reaffirmed a “market outperform” rating and issued a $11.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, July 2nd. Wall Street Zen cut shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Bank of America upped their price objective on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Robert W. Baird lifted their target price on Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Finally, Pivotal Research set a $14.00 target price on Taysha Gene Therapies in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $12.77.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $6.24, for a total value of $1,248,000.00. Following the completion of the transaction, the insider owned 936,410 shares in the company, valued at $5,843,198.40. This trade represents a 17.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vestal Point Capital LP raised its stake in shares of Taysha Gene Therapies by 150.0% during the 4th quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock worth $75,625,000 after purchasing an additional 8,250,000 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Taysha Gene Therapies during the second quarter worth $11,178,000. Barclays PLC raised its position in Taysha Gene Therapies by 1,042.8% during the third quarter. Barclays PLC now owns 5,148,112 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,697,611 shares in the last quarter. State Street Corp raised its position in Taysha Gene Therapies by 49.1% during the fourth quarter. State Street Corp now owns 10,790,084 shares of the company’s stock worth $59,345,000 after acquiring an additional 3,553,619 shares in the last quarter. Finally, MPM Bioimpact LLC acquired a new stake in Taysha Gene Therapies in the second quarter valued at $6,823,000. 77.70% of the stock is owned by institutional investors and hedge funds.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.