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

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) traded down 7.5% on Friday . The stock traded as low as $2.98 and last traded at $2.98. 1,079,982 shares traded hands during 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

Several research analysts have recently weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, March 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a report on Wednesday, March 20th. Chardan Capital upped their target price on Taysha Gene Therapies from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Piper Sandler initiated coverage on Taysha Gene Therapies in a report on Tuesday, April 9th. They issued an “overweight” rating and a $9.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $5.00 target price on shares of Taysha Gene Therapies in a report on Wednesday, March 20th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.88.

Taysha Gene Therapies Price Performance

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

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 business had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $4.75 million. As a group, equities analysts expect that Taysha Gene Therapies, Inc. will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Taysha Gene Therapies by 2,035.0% during the 3rd quarter. FMR LLC now owns 24,527,801 shares of the company’s stock valued at $77,508,000 after acquiring an additional 23,378,974 shares during the period. RA Capital Management L.P. purchased a new position in Taysha Gene Therapies during the 3rd quarter valued at about $58,373,000. RTW Investments LP purchased a new position in Taysha Gene Therapies during the 3rd quarter valued at about $53,382,000. Vanguard Group Inc. boosted its holdings in Taysha Gene Therapies by 16.3% during the 4th quarter. Vanguard Group Inc. now owns 6,195,567 shares of the company’s stock valued at $10,966,000 after acquiring an additional 867,703 shares during the period. Finally, Avoro Capital Advisors LLC boosted its holdings in Taysha Gene Therapies by 11.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,355,555 shares of the company’s stock valued at $7,709,000 after acquiring an additional 430,555 shares during the period. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

About Taysha Gene Therapies

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.