Taysha Gene Therapies (NASDAQ:TSHA) Sees Large Volume Increase – Still a Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares saw unusually-high trading volume on Thursday . 2,690,925 shares traded hands during mid-day trading, an increase of 0% from the previous session’s volume of 2,685,224 shares.The stock last traded at $6.4550 and had previously closed at $6.94.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSHA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Friday, March 27th. Bank of America raised their price target on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen downgraded shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. BMO Capital Markets upped their price objective on shares of Taysha Gene Therapies from $10.00 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Chardan Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.38.

Taysha Gene Therapies Trading Down 10.6%

The firm has a 50-day moving average of $6.07 and a 200 day moving average of $5.28. The company has a market cap of $1.78 billion, a P/E ratio of -16.38 and a beta of 1.19. The company has a current ratio of 14.04, a quick ratio of 14.04 and a debt-to-equity ratio of 0.23.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). On average, analysts predict that Taysha Gene Therapies, Inc. will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Sukumar Nagendran sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $4.46, for a total transaction of $892,000.00. Following the completion of the sale, the insider owned 1,136,410 shares in the company, valued at $5,068,388.60. The trade was a 14.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.78% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Several hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in Taysha Gene Therapies by 325.6% during the first quarter. AQR Capital Management LLC now owns 107,899 shares of the company’s stock worth $150,000 after buying an additional 82,545 shares during the last quarter. Rhumbline Advisers increased its position in shares of Taysha Gene Therapies by 13.5% during the second quarter. Rhumbline Advisers now owns 233,256 shares of the company’s stock worth $539,000 after acquiring an additional 27,794 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Taysha Gene Therapies by 50.5% in the 2nd quarter. Prudential Financial Inc. now owns 22,790 shares of the company’s stock worth $53,000 after acquiring an additional 7,650 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Taysha Gene Therapies by 27.4% in the 2nd quarter. Invesco Ltd. now owns 203,671 shares of the company’s stock worth $470,000 after acquiring an additional 43,772 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Taysha Gene Therapies in the 2nd quarter valued at about $184,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

About Taysha Gene Therapies

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.