Taysha Gene Therapies (NASDAQ:TSHA) Shares Down 5% – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Taysha Gene Therapies from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Citizens Jmp restated a “market outperform” rating and set a $11.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, July 2nd. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a report on Monday, September 21st. Finally, Bank of America upped their target price on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $12.77.

Taysha Gene Therapies Stock Down 2.0%

The stock has a 50-day simple moving average of $5.35 and a 200-day simple moving average of $5.68. The firm has a market capitalization of $1.14 billion, a PE ratio of -8.36 and a beta of 1.19. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Analysts forecast that Taysha Gene Therapies, Inc. will post -0.52 EPS for the current year.

Institutional Trading of Taysha Gene Therapies

Several large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Taysha Gene Therapies during the first quarter valued at $50,000. Y Intercept Hong Kong Ltd bought a new stake in Taysha Gene Therapies during the 1st quarter valued at $51,000. Principal Financial Group Inc. boosted its stake in shares of Taysha Gene Therapies by 26.2% during the first quarter. Principal Financial Group Inc. now owns 16,185 shares of the company’s stock valued at $72,000 after purchasing an additional 3,362 shares in the last quarter. Cetera Investment Advisers raised its stake in Taysha Gene Therapies by 34.5% in the first quarter. Cetera Investment Advisers now owns 28,450 shares of the company’s stock worth $127,000 after buying an additional 7,296 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Taysha Gene Therapies by 698.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 25,577 shares of the company’s stock valued at $141,000 after purchasing an additional 22,373 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors.

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.