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

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price dropped 6.5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $4.18 and last traded at $4.1430. Approximately 786,829 shares traded hands during mid-day trading, a decline of 80% from the average daily 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 shares were sold at an average price of $4.75, for a total value of $523,093.75. Following the completion of the transaction, the insider directly owned 1,006,439 shares in the company, valued at approximately $4,780,585.25. This represents a 9.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sukumar Nagendran sold 260,047 shares of Taysha Gene Therapies stock in a transaction on Monday, December 1st. The stock was sold at an average price of $4.51, for a total transaction of $1,172,811.97. Following the transaction, the insider owned 1,006,439 shares in the company, valued at approximately $4,539,039.89. This trade represents a 20.53% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TSHA shares. Citizens Jmp increased their price objective on Taysha Gene Therapies from $6.00 to $8.00 and gave the company a “market outperform” rating in a report on Wednesday, November 5th. Citigroup reissued an “outperform” rating on shares of Taysha Gene Therapies in a research note on Wednesday, November 5th. Robert W. Baird lifted their price objective on Taysha Gene Therapies from $7.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Chardan Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Taysha Gene Therapies in a report on Wednesday, November 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price target on shares of Taysha Gene Therapies in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Taysha Gene Therapies presently has an average rating of “Moderate Buy” and an average price target of $10.30.

Taysha Gene Therapies Stock Performance

The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.61 and a beta of 1.06. The company has a 50 day simple moving average of $4.45 and a 200-day simple moving average of $3.34. The company has a quick ratio of 10.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.23.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) earnings per share 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%. As a group, equities research analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. bought a new stake in Taysha Gene Therapies in the 3rd quarter valued at about $74,000. Sender Co & Partners Inc. acquired a new stake in Taysha Gene Therapies in the third quarter valued at approximately $89,000. Vestal Point Capital LP grew its stake in Taysha Gene Therapies by 83.3% in the third quarter. Vestal Point Capital LP now owns 5,500,000 shares of the company’s stock valued at $17,985,000 after acquiring an additional 2,500,000 shares during the period. Polar Capital Holdings Plc increased its holdings in shares of Taysha Gene Therapies by 5.9% during the third quarter. Polar Capital Holdings Plc now owns 5,293,879 shares of the company’s stock valued at $17,311,000 after acquiring an additional 293,879 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Taysha Gene Therapies by 15.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,024 shares of the company’s stock worth $362,000 after purchasing an additional 14,481 shares during the period. 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.