Taysha Gene Therapies (NASDAQ:TSHA) Shares Down 7.5%

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price fell 7.5% on Friday . The company traded as low as $2.98 and last traded at $2.98. 1,079,982 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,712,881 shares. The stock had previously closed at $3.22.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSHA. 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 Wednesday, March 20th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, March 21st. Piper Sandler initiated coverage on Taysha Gene Therapies in a report on Tuesday, April 9th. They set an “overweight” rating and a $9.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a report on Thursday. Finally, Chardan Capital lifted their price objective on Taysha Gene Therapies from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $6.88.

Taysha Gene Therapies Stock Down 8.7 %

The stock has a fifty day moving average price of $2.47 and a two-hundred day moving average price of $2.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.08 and a quick ratio of 4.08.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.35 earnings per share for the quarter. The company had revenue of $3.60 million during the quarter, compared to analyst estimates of $4.75 million. As a group, research analysts predict that Taysha Gene Therapies, Inc. will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Taysha Gene Therapies by 2,035.0% in the third quarter. FMR LLC now owns 24,527,801 shares of the company’s stock valued at $77,508,000 after purchasing an additional 23,378,974 shares during the last quarter. RA Capital Management L.P. acquired a new position in Taysha Gene Therapies in the third quarter valued at $58,373,000. RTW Investments LP acquired a new position in Taysha Gene Therapies in the third quarter valued at $53,382,000. Vanguard Group Inc. increased its stake in Taysha Gene Therapies by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 6,195,567 shares of the company’s stock valued at $10,966,000 after purchasing an additional 867,703 shares during the last quarter. Finally, Avoro Capital Advisors LLC increased its stake in Taysha Gene Therapies by 11.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,355,555 shares of the company’s stock valued at $7,709,000 after purchasing an additional 430,555 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.