Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 8.5% - Here's What Happened
Taysha Gene Therapies (NASDAQ:TSHA) shares fell 8.5% to $3.9050, with trading volume down 34% from average levels. Analysts have set new price targets, with JMP Securities and Citizens Jmp raising their targets to $8.00, while Needham & Company maintains a $10.00 target. The company reported a quarterly EPS of ($0.09) and revenue of $1.90 million, meeting estimates. Insider Sukumar Nagendran sold 200,000 shares, reducing ownership by 16.58%. Institutional investors hold 77.70% of the stock, which focuses on gene therapies for central nervous system diseases.
Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) shares traded down 8.5% during trading on Wednesday . The stock traded as low as $3.95 and last traded at $3.9050. 2,567,797 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 3,876,439 shares. The stock had previously closed at $4.27.
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Analysts Set New Price Targets
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A number of equities research analysts have recently issued reports on the stock. Citizens Jmp boosted their price target on shares of Taysha Gene Therapies from $6.00 to $8.00 and gave the company a "market outperform" rating in a report on Wednesday. JMP Securities set a $8.00 target price on shares of Taysha Gene Therapies in a research note on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of Taysha Gene Therapies in a research report on Friday, October 17th. Citigroup reissued an "outperform" rating on shares of Taysha Gene Therapies in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.70.
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Taysha Gene Therapies Stock Performance
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The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -11.57 and a beta of 1.00. The firm's fifty day moving average price is $3.93 and its 200-day moving average price is $3.03. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, meeting analysts' consensus estimates of ($0.09). The company had revenue of $1.90 million for the quarter, compared to analyst estimates of $1.51 million. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. Analysts expect that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.
Insider Activity at Taysha Gene Therapies
In related news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction on 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 directly owned 1,006,439 shares of the company's stock, valued at approximately $3,250,797.97. The trade was a 16.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.78% of the stock is owned by company insiders.
Institutional Trading of Taysha Gene Therapies
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marex Group plc purchased a new stake in shares of Taysha Gene Therapies during the 2nd quarter valued at $29,000. E Fund Management Co. Ltd. bought a new position in Taysha Gene Therapies in the 2nd quarter worth approximately $31,000. ST Germain D J Co. Inc. lifted its stake in shares of Taysha Gene Therapies by 81.8% in the 3rd quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company's stock worth $32,000 after acquiring an additional 4,333 shares during the period. May Hill Capital LLC acquired a new stake in Taysha Gene Therapies in the 2nd quarter valued at about $37,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of 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 buying an additional 10,742 shares in the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.
About Taysha Gene Therapies
(Get Free Report)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.
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