Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down – What’s Next?

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TSHA. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday. Canaccord Genuity Group decreased their price target on Taysha Gene Therapies from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and issued 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 target price on shares of Taysha Gene Therapies in a research note on Tuesday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $6.38.

Taysha Gene Therapies Price Performance

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

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $1.11 million during 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 last year, the company earned ($0.38) earnings per share. Equities analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of Taysha Gene Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning acquired a new stake in Taysha Gene Therapies in the third quarter worth about $28,000. Principal Financial Group Inc. acquired a new position in shares of Taysha Gene Therapies during the 2nd quarter worth about $48,000. China Universal Asset Management Co. Ltd. grew 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 valued at $79,000 after purchasing an additional 17,446 shares during the period. Intech Investment Management LLC acquired a new position in shares of Taysha Gene Therapies in the 3rd quarter valued at approximately $85,000. Finally, Scientech Research LLC acquired a new position in shares of Taysha Gene Therapies in the 2nd quarter valued at approximately $97,000. 77.70% of the stock is currently 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.