Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) gapped down prior to trading on Thursday . The stock had previously closed at $2.21, but opened at $2.01. Taysha Gene Therapies shares last traded at $2.58, with a volume of 2,186,758 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TSHA shares. Chardan Capital restated a “buy” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, August 13th. Canaccord Genuity Group dropped their price objective on Taysha Gene Therapies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday. Finally, JMP Securities restated a “market outperform” rating and issued a $5.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Taysha Gene Therapies currently has an average rating of “Buy” and an average target price of $6.38.

Taysha Gene Therapies Trading Up 9.5 %

The stock has a market capitalization of $495.95 million, a price-to-earnings ratio of -12.90 and a beta of 0.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.22 and a current ratio of 5.22. The business has a fifty day simple moving average of $1.98 and a 200 day simple moving average of $2.39.

Taysha Gene Therapies (NASDAQ:TSHA) last released its earnings results on Monday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $3.62 million. Taysha Gene Therapies had a negative return on equity of 168.91% and a negative net margin of 888.18%. During the same period in the prior year, the firm posted ($0.38) EPS. As a group, research analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

Institutional Trading of Taysha Gene Therapies

Several large investors have recently modified their holdings of the stock. Creative Planning acquired a new stake in shares of Taysha Gene Therapies during the 3rd quarter worth $28,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Taysha Gene Therapies by 79.4% during 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 in the last quarter. Privium Fund Management B.V. lifted its position in shares of Taysha Gene Therapies by 21.8% during the 3rd quarter. Privium Fund Management B.V. now owns 120,000 shares of the company’s stock worth $241,000 after buying an additional 21,500 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Taysha Gene Therapies during the 2nd quarter worth $48,000. Finally, Artal Group S.A. lifted its position in shares of Taysha Gene Therapies by 0.7% during the 1st quarter. Artal Group S.A. now owns 3,687,548 shares of the company’s stock worth $10,583,000 after buying an additional 24,444 shares during the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

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.