Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 4.4% Following Insider Selling

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) dropped 4.4% on Monday following insider selling activity. The stock traded as low as $2.97 and last traded at $2.94. Approximately 386,568 shares changed hands during trading, a decline of 87% from the average daily volume of 2,949,512 shares. The stock had previously closed at $3.07.

Specifically, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total value of $646,000.00. Following the transaction, the insider owned 1,006,439 shares of the company’s stock, valued at approximately $3,250,797.97. This trade represents a 16.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

TSHA has been the topic of a number of research reports. JMP Securities raised their target price on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the company a “market outperform” rating in a research note on Thursday, May 29th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Canaccord Genuity Group raised their target price on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Wells Fargo & Company lifted their price target on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Finally, Chardan Capital lifted their price target on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taysha Gene Therapies presently has an average rating of “Buy” and a consensus target price of $8.29.

Taysha Gene Therapies Price Performance

The stock has a market cap of $823.86 million, a PE ratio of -8.88 and a beta of 0.98. The company has a current ratio of 12.48, a quick ratio of 12.48 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $2.83 and its 200-day moving average is $2.33.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $1.99 million for the quarter, compared to analysts’ expectations of $1.61 million. Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%. As a group, sell-side analysts predict that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds and other institutional investors have recently modified their holdings of TSHA. Northern Trust Corp increased its position in shares of Taysha Gene Therapies by 6.3% in the 4th quarter. Northern Trust Corp now owns 1,458,732 shares of the company’s stock worth $2,524,000 after purchasing an additional 86,207 shares during the last quarter. Jane Street Group LLC increased its position in shares of Taysha Gene Therapies by 57.6% in the 4th quarter. Jane Street Group LLC now owns 169,575 shares of the company’s stock worth $293,000 after purchasing an additional 62,003 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Taysha Gene Therapies in the 4th quarter worth about $40,000. BNP Paribas Financial Markets bought a new stake in shares of Taysha Gene Therapies in the 4th quarter worth about $41,000. Finally, Bank of America Corp DE increased its position in shares of Taysha Gene Therapies by 1,178.9% in the 4th quarter. Bank of America Corp DE now owns 1,710,303 shares of the company’s stock worth $2,959,000 after purchasing an additional 1,576,568 shares during the last quarter. Institutional investors own 77.70% of the company’s stock.

Taysha Gene Therapies Company Profile

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.