Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Down 5.2% – Should You Sell?

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) were down 5.2% during trading on Tuesday . The company traded as low as $2.91 and last traded at $2.92. Approximately 209,288 shares changed hands during trading, a decline of 92% from the average daily volume of 2,787,875 shares. The stock had previously closed at $3.08.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TSHA shares. Canaccord Genuity Group boosted their price target on shares of Taysha Gene Therapies from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday, November 12th. Finally, Chardan Capital restated a “buy” rating and set a $7.00 price target on shares of Taysha Gene Therapies in a report on Thursday, November 14th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.63.

Taysha Gene Therapies Stock Down 10.4 %

The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 0.48. The stock has a market cap of $565.63 million, a price-to-earnings ratio of 4.44 and a beta of 0.78. The stock has a fifty day moving average of $2.06 and a two-hundred day moving average of $2.39.

Institutional Trading of Taysha Gene Therapies

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning bought a new stake in shares of Taysha Gene Therapies in the 3rd quarter valued at approximately $28,000. Principal Financial Group Inc. bought a new stake in Taysha Gene Therapies during the second quarter valued at $48,000. China Universal Asset Management Co. Ltd. boosted its holdings 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 buying an additional 17,446 shares during the period. Intech Investment Management LLC acquired a new stake in Taysha Gene Therapies in the third quarter worth $85,000. Finally, Scientech Research LLC acquired a new position in shares of Taysha Gene Therapies during the second quarter worth approximately $97,000. 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.