Taysha Gene Therapies (NASDAQ:TSHA) Trading Down 5.2% – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares fell 5.2% during mid-day trading on Tuesday . The company traded as low as $2.91 and last traded at $2.92. 209,288 shares traded hands during trading, a decline of 92% from the average session volume of 2,787,875 shares. The stock had previously closed at $3.08.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TSHA shares. Canaccord Genuity Group boosted their target price on shares of Taysha Gene Therapies from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Chardan Capital restated a “buy” rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. JMP Securities reissued a “market outperform” rating and issued a $5.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, November 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.63.

Taysha Gene Therapies Price Performance

The stock has a market cap of $565.63 million, a PE ratio of 4.44 and a beta of 0.78. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $2.06 and a 200 day moving average price of $2.39.

Institutional Investors Weigh In On Taysha Gene Therapies

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning bought a new position in Taysha Gene Therapies during the 3rd quarter valued at approximately $28,000. Principal Financial Group Inc. bought a new position in Taysha Gene Therapies during the 2nd quarter valued at approximately $48,000. China Universal Asset Management Co. Ltd. raised its position in shares of Taysha Gene Therapies by 79.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 39,417 shares of the company’s stock worth $79,000 after purchasing an additional 17,446 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Taysha Gene Therapies during the 3rd quarter valued at $85,000. Finally, Scientech Research LLC bought a new position in Taysha Gene Therapies during the second quarter valued at approximately $97,000. Institutional investors own 77.70% of the company’s stock.

About Taysha Gene Therapies

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.