Sukumar Nagendran Sells 200,000 Shares of Taysha Gene Therapies (NASDAQ:TSHA) Stock

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the completion of the sale, the insider owned 936,410 shares of the company’s stock, valued at $5,843,198.40. This trade represents a 17.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Taysha Gene Therapies Stock Performance

NASDAQ TSHA traded down $0.23 during trading on Friday, reaching $6.34. 2,850,052 shares of the company’s stock were exchanged, compared to its average volume of 3,779,284. The company has a debt-to-equity ratio of 0.23, a current ratio of 14.04 and a quick ratio of 14.04. The business has a 50 day moving average price of $6.15 and a 200-day moving average price of $5.36. The stock has a market capitalization of $1.82 billion, a P/E ratio of -16.68 and a beta of 1.17. Taysha Gene Therapies, Inc. has a fifty-two week low of $2.34 and a fifty-two week high of $7.30.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Sell-side analysts forecast that Taysha Gene Therapies, Inc. will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSHA. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a report on Wednesday, June 24th. Bank of America boosted their price target on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Wall Street Zen lowered Taysha Gene Therapies from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, BMO Capital Markets increased their price objective on Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.62.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vestal Point Capital LP boosted its stake in shares of Taysha Gene Therapies by 150.0% in the fourth quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock valued at $75,625,000 after buying an additional 8,250,000 shares during the period. Goldman Sachs Group Inc. raised its holdings in Taysha Gene Therapies by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 13,692,739 shares of the company’s stock valued at $75,310,000 after acquiring an additional 309,031 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Taysha Gene Therapies by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 13,267,805 shares of the company’s stock valued at $72,973,000 after acquiring an additional 418,192 shares during the period. Octagon Capital Advisors LP lifted its position in shares of Taysha Gene Therapies by 17.7% during the 2nd quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock valued at $29,089,000 after acquiring an additional 1,892,500 shares during the period. Finally, State Street Corp grew its holdings in shares of Taysha Gene Therapies by 49.1% during the 4th quarter. State Street Corp now owns 10,790,084 shares of the company’s stock worth $59,345,000 after purchasing an additional 3,553,619 shares in the last quarter. 77.70% of the stock is owned by institutional investors.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.