Taysha Gene Therapies (NASDAQ:TSHA) Insider Sukumar Nagendran Sells 200,000 Shares

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the completion of the sale, the insider directly owned 936,410 shares of the company’s stock, valued at $5,843,198.40. This trade represents a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Taysha Gene Therapies Stock Down 3.5%

TSHA stock traded down $0.23 during midday trading on Friday, reaching $6.34. The company had a trading volume of 2,850,052 shares, compared to its average volume of 3,779,284. The company has a 50 day moving average of $6.15 and a two-hundred day moving average of $5.35. The company has a market capitalization of $1.82 billion, a P/E ratio of -16.68 and a beta of 1.17. Taysha Gene Therapies, Inc. has a 1 year low of $2.34 and a 1 year high of $7.30. 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 posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). On average, equities research analysts expect that Taysha Gene Therapies, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC raised its stake in shares of Taysha Gene Therapies by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 71,069 shares of the company’s stock valued at $391,000 after buying an additional 2,443 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Taysha Gene Therapies by 1.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 166,541 shares of the company’s stock valued at $916,000 after acquiring an additional 2,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Taysha Gene Therapies by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,311 shares of the company’s stock valued at $73,000 after acquiring an additional 2,765 shares in the last quarter. Virtus Investment Advisers LLC increased its stake in Taysha Gene Therapies by 7.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 45,946 shares of the company’s stock valued at $253,000 after acquiring an additional 3,008 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Taysha Gene Therapies by 26.2% in the first quarter. Principal Financial Group Inc. now owns 16,185 shares of the company’s stock valued at $72,000 after acquiring an additional 3,362 shares during the period. Institutional investors own 77.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSHA. Canaccord Genuity Group upped their price objective on shares of Taysha Gene Therapies from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Chardan Capital reaffirmed a “buy” rating and issued a $12.00 price target on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Truist Financial upgraded Taysha Gene Therapies to a “strong-buy” rating in a research note on Wednesday, March 25th. Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, June 30th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $11.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $12.62.

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.