Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 5% – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price fell 5% on Tuesday. The stock traded as low as $3.94 and last traded at $3.9350. Approximately 199,111 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 3,012,667 shares. The stock had previously closed at $4.14.

Analyst Ratings Changes

TSHA has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Robert W. Baird lifted their price target on shares of Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Bank of America increased their target price on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Pivotal Research set a $14.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group raised their price objective on shares of Taysha Gene Therapies from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Taysha Gene Therapies presently has a consensus rating of “Buy” and an average target price of $12.77.

Taysha Gene Therapies Trading Down 9.2%

The company has a current ratio of 17.76, a quick ratio of 17.76 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $5.46 and a 200-day simple moving average of $5.69. The firm has a market cap of $1.23 billion, a P/E ratio of -9.00 and a beta of 1.19.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). On average, equities research analysts expect that Taysha Gene Therapies, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several large investors have recently modified their holdings of TSHA. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Taysha Gene Therapies during the 4th quarter worth approximately $20,471,000. Wellington Management Group LLP increased its holdings in Taysha Gene Therapies by 534.7% in the 2nd quarter. Wellington Management Group LLP now owns 3,975,605 shares of the company’s stock worth $27,074,000 after buying an additional 3,349,244 shares during the period. Polar Capital Holdings Plc raised its holdings in shares of Taysha Gene Therapies by 49.8% during the fourth quarter. Polar Capital Holdings Plc now owns 7,931,403 shares of the company’s stock worth $43,623,000 after purchasing an additional 2,637,524 shares during the last quarter. Casdin Capital LLC acquired a new position in shares of Taysha Gene Therapies in the 4th quarter valued at about $8,250,000. Finally, SG Americas Securities LLC increased its holdings in shares of Taysha Gene Therapies by 178.5% during the 1st quarter. SG Americas Securities LLC now owns 2,176,742 shares of the company’s stock valued at $9,730,000 after purchasing an additional 1,395,268 shares in the last quarter. Institutional investors own 77.70% of the company’s stock.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for severe monogenic diseases of the central nervous system. The company uses adeno-associated virus-based delivery technologies and other genetic medicine approaches to target conditions with limited or no approved treatment options.

Taysha’s research and development programs have included TSHA-102, an investigational gene therapy being developed for Rett syndrome, as well as programs for other rare neurological disorders.