Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 5.9% – What’s Next?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) fell 5.9% during mid-day trading on Tuesday . The company traded as low as $2.69 and last traded at $2.64. 965,092 shares traded hands during trading, a decline of 68% from the average session volume of 3,033,330 shares. The stock had previously closed at $2.80.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSHA. Chardan Capital upped their price objective on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Taysha Gene Therapies in a report on Tuesday. JMP Securities increased 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 note on Thursday, May 29th. Canaccord Genuity Group boosted their price objective on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a research report on Thursday, May 29th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $7.57.

Taysha Gene Therapies Stock Performance

The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $2.07 and a 200 day simple moving average of $1.93. The company has a market cap of $563.49 million, a price-to-earnings ratio of 4.17 and a beta of 1.04.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its earnings results on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $1.48 million. Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. During the same period in the previous year, the company posted ($0.10) EPS. On average, sell-side analysts predict that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning acquired 750,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average price of $2.75 per share, for a total transaction of $2,062,500.00. Following the completion of the transaction, the insider now directly owns 2,841,704 shares in the company, valued at approximately $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Granahan Investment Management LLC lifted its holdings in shares of Taysha Gene Therapies by 0.3% in the 1st quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company’s stock valued at $2,281,000 after buying an additional 4,412 shares during the period. Hsbc Holdings PLC raised its position in Taysha Gene Therapies by 65.6% in the fourth quarter. Hsbc Holdings PLC now owns 20,391 shares of the company’s stock worth $36,000 after acquiring an additional 8,076 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in Taysha Gene Therapies by 43.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 31,597 shares of the company’s stock valued at $55,000 after acquiring an additional 9,494 shares during the period. Geode Capital Management LLC boosted its position in shares of Taysha Gene Therapies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company’s stock worth $6,182,000 after purchasing an additional 9,591 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Taysha Gene Therapies by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company’s stock worth $820,000 after purchasing an additional 11,390 shares during the period. Institutional investors and hedge funds own 77.70% of the company’s stock.

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.