Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 4.5% – Time to Sell?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) fell 4.5% on Monday . The company traded as low as $3.11 and last traded at $3.11. 353,905 shares traded hands during trading, a decline of 88% from the average session volume of 3,029,677 shares. The stock had previously closed at $3.25.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSHA. Bank of America began coverage on Taysha Gene Therapies in a research note on Friday, July 11th. They set a “buy” rating and a $8.00 target price on the stock. Canaccord Genuity Group raised their target price on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, July 1st. Wells Fargo & Company raised their price objective on Taysha Gene Therapies from $7.50 to $8.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Finally, Chardan Capital raised their price objective on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.29.

Taysha Gene Therapies Price Performance

The firm has a market capitalization of $855.23 million, a P/E ratio of -9.22 and a beta of 0.98. The business has a 50-day moving average of $2.90 and a 200 day moving average of $2.41. The company has a current ratio of 12.48, a quick ratio of 12.48 and a debt-to-equity ratio of 0.17.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its earnings results on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. The firm had revenue of $1.99 million during the quarter, compared to the consensus estimate of $1.61 million. On average, sell-side analysts predict that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Taysha Gene Therapies

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total transaction of $646,000.00. Following the completion of the transaction, the insider owned 1,006,439 shares in the company, valued at approximately $3,250,797.97. The trade was a 16.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its stake in shares of Taysha Gene Therapies by 27.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 52,527 shares of the company’s stock worth $121,000 after buying an additional 11,407 shares during the last quarter. Marex Group plc purchased a new position in shares of Taysha Gene Therapies in the 2nd quarter worth approximately $29,000. Tower Research Capital LLC TRC lifted its stake in Taysha Gene Therapies by 156.5% in the second quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock valued at $41,000 after purchasing an additional 10,742 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Taysha Gene Therapies in the second quarter valued at approximately $31,000. Finally, Rafferty Asset Management LLC purchased a new position in Taysha Gene Therapies in the second quarter valued at approximately $274,000. Hedge funds and other institutional investors 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.