Taysha Gene Therapies (NASDAQ:TSHA) Shares Down 5.2% – Time to Sell?

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Canaccord Genuity Group lifted their price target on 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 reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. JMP Securities reissued a “market outperform” rating and set a $5.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a report on Thursday, November 14th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Taysha Gene Therapies has an average rating of “Buy” and an average target price of $6.63.

Taysha Gene Therapies Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 5.51 and a quick ratio of 5.51. The stock has a 50 day simple moving average of $2.10 and a two-hundred day simple moving average of $2.38. The company has a market cap of $502.10 million, a PE ratio of 3.89 and a beta of 0.79.

Institutional Investors Weigh In On Taysha Gene Therapies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Taysha Gene Therapies by 23.7% during the third quarter. Geode Capital Management LLC now owns 3,562,758 shares of the company’s stock worth $7,163,000 after purchasing an additional 682,273 shares during the last quarter. State Street Corp raised its stake in shares of Taysha Gene Therapies by 4.5% during the third quarter. State Street Corp now owns 3,469,068 shares of the company’s stock worth $6,973,000 after purchasing an additional 150,647 shares during the last quarter. Quantum Private Wealth LLC raised its stake in shares of Taysha Gene Therapies by 5.1% during the third quarter. Quantum Private Wealth LLC now owns 767,616 shares of the company’s stock worth $1,543,000 after purchasing an additional 37,096 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Taysha Gene Therapies during the third quarter worth approximately $931,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Taysha Gene Therapies by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 462,867 shares of the company’s stock worth $930,000 after purchasing an additional 33,123 shares during the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

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.