Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 6.6% – Should You Sell?

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) traded down 6.6% on Thursday . The company traded as low as $6.02 and last traded at $5.9850. Approximately 916,455 shares traded hands during trading, a decline of 68% from the average session volume of 2,877,365 shares. The stock had previously closed at $6.41.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BMO Capital Markets increased their price target on Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Wednesday, June 24th. Bank of America increased their target price on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Robert W. Baird lifted their price target on shares of Taysha Gene Therapies from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Two 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $12.77.

Taysha Gene Therapies Trading Down 0.7%

The company has a quick ratio of 14.04, a current ratio of 17.76 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.94 billion, a P/E ratio of -14.17 and a beta of 1.22. The firm’s 50-day moving average price is $6.11 and its 200 day moving average price is $5.49.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). As a group, equities research analysts predict that Taysha Gene Therapies, Inc. will post -0.51 earnings per share for the current year.

Insider Activity at Taysha Gene Therapies

In other news, 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 value 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 represents a 17.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TSHA. Marex Group plc purchased a new stake in Taysha Gene Therapies in the 2nd quarter valued at $29,000. E Fund Management Co. Ltd. purchased a new position in Taysha Gene Therapies during the 2nd quarter worth $31,000. Tower Research Capital LLC TRC grew its stake in shares of Taysha Gene Therapies by 156.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock worth $41,000 after acquiring an additional 10,742 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Taysha Gene Therapies by 143.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock worth $43,000 after acquiring an additional 4,607 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Taysha Gene Therapies by 51.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 18,591 shares of the company’s stock worth $43,000 after acquiring an additional 6,350 shares in the last quarter. Hedge funds and other institutional investors 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.