Taysha Gene Therapies (NASDAQ:TSHA) Shares Down 6.5% After Insider Selling

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price traded down 6.5% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $4.18 and last traded at $4.1430. 786,829 shares traded hands during trading, a decline of 80% from the average session volume of 3,843,018 shares. The stock had previously closed at $4.43.

Specifically, insider Sukumar Nagendran sold 110,125 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $4.75, for a total value of $523,093.75. Following the transaction, the insider directly owned 1,006,439 shares of the company’s stock, valued at approximately $4,780,585.25. This represents a 9.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sukumar Nagendran sold 260,047 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $4.51, for a total value of $1,172,811.97. Following the sale, the insider owned 1,006,439 shares in the company, valued at approximately $4,539,039.89. This represents a 20.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

TSHA has been the topic of a number of research analyst reports. Raymond James Financial began coverage on Taysha Gene Therapies in a report on Tuesday, October 21st. They set a “strong-buy” rating and a $13.00 price target on the stock. Wells Fargo & Company boosted their target price on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Taysha Gene Therapies in a research note on Friday, November 14th. 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 report on Thursday, October 2nd. Finally, Chardan Capital reissued a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.30.

Taysha Gene Therapies Stock Down 8.4%

The company has a current ratio of 10.48, a quick ratio of 10.48 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.11 billion, a P/E ratio of -12.30 and a beta of 1.06. The company’s 50 day moving average price is $4.42 and its two-hundred day moving average price is $3.33.

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

Institutional Investors Weigh In On Taysha Gene Therapies

Hedge funds have recently modified their holdings of the business. Xponance Inc. increased its stake in shares of Taysha Gene Therapies by 29.1% in the 3rd quarter. Xponance Inc. now owns 16,575 shares of the company’s stock worth $54,000 after purchasing an additional 3,738 shares in the last quarter. Principal Financial Group Inc. lifted its position in Taysha Gene Therapies by 33.6% during the third quarter. Principal Financial Group Inc. now owns 16,251 shares of the company’s stock valued at $53,000 after purchasing an additional 4,091 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in Taysha Gene Therapies by 81.8% during the third quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company’s stock valued at $32,000 after purchasing an additional 4,333 shares during the period. Granahan Investment Management LLC grew its holdings in Taysha Gene Therapies by 0.3% during the first quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company’s stock valued at $2,281,000 after purchasing an additional 4,412 shares during the period. Finally, Legal & General Group Plc increased its position in Taysha Gene Therapies by 25.8% in the third quarter. Legal & General Group Plc now owns 23,149 shares of the company’s stock worth $76,000 after buying an additional 4,754 shares in 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.