Taysha Gene Therapies (NASDAQ:TSHA) Downgraded by Wall Street Zen to Sell

Taysha Gene Therapies (NASDAQ:TSHA) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other research firms also recently issued reports on TSHA. Citizens Jmp boosted their target price on shares of Taysha Gene Therapies from $6.00 to $8.00 and gave the company a “market outperform” rating in a research report on Wednesday. JMP Securities set a $8.00 price objective on Taysha Gene Therapies in a research note on Wednesday. Robert W. Baird raised their price target on shares of Taysha Gene Therapies from $7.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Wells Fargo & Company upped their price objective on Taysha Gene Therapies from $7.50 to $8.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Taysha Gene Therapies in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.70.

Taysha Gene Therapies Stock Performance

NASDAQ TSHA opened at $3.83 on Friday. The stock has a fifty day simple moving average of $3.99 and a 200 day simple moving average of $3.06. The company has a quick ratio of 12.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -11.61 and a beta of 1.00. Taysha Gene Therapies has a twelve month low of $1.05 and a twelve month high of $5.51.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Taysha Gene Therapies had a negative return on equity of 67.26% and a negative net margin of 1,144.97%. Sell-side analysts expect that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Activity at Taysha Gene Therapies

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total value of $646,000.00. Following the completion of the sale, the insider owned 1,006,439 shares of the company’s stock, valued at $3,250,797.97. This represents a 16.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TSHA. Marex Group plc purchased a new stake in Taysha Gene Therapies in the second quarter worth $29,000. E Fund Management Co. Ltd. bought a new position in Taysha Gene Therapies in the 2nd quarter worth $31,000. ST Germain D J Co. Inc. lifted its holdings in Taysha Gene Therapies by 81.8% in the third quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company’s stock worth $32,000 after buying an additional 4,333 shares during the period. May Hill Capital LLC bought a new position in Taysha Gene Therapies in the second quarter worth $37,000. Finally, Tower Research Capital LLC TRC grew its holdings in 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 worth $41,000 after purchasing an additional 10,742 shares during the period. 77.70% of the stock is owned by hedge funds and other institutional investors.

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.