Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares 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.

Wall Street Analyst Weigh In

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

Taysha Gene Therapies Trading Down 9.3 %

The business has a 50 day simple moving average of $1.98 and a 200-day simple moving average of $2.38. The stock has a market capitalization of $422.18 million, a price-to-earnings ratio of 3.27 and a beta of 0.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.22 and a quick ratio of 5.22.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors and hedge funds have recently modified their holdings of the business. Avoro Capital Advisors LLC boosted its holdings in shares of Taysha Gene Therapies by 328.2% in the first quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company’s stock valued at $53,526,000 after buying an additional 14,294,445 shares during the period. Artal Group S.A. increased its holdings in Taysha Gene Therapies by 0.7% during the 1st quarter. Artal Group S.A. now owns 3,687,548 shares of the company’s stock worth $10,583,000 after purchasing an additional 24,444 shares in the last quarter. State Street Corp raised its stake in shares of Taysha Gene Therapies by 4.5% in the 3rd quarter. State Street Corp now owns 3,469,068 shares of the company’s stock valued at $6,973,000 after purchasing an additional 150,647 shares during the period. StemPoint Capital LP acquired a new stake in shares of Taysha Gene Therapies in the 1st quarter valued at about $3,122,000. Finally, Quantum Private Wealth LLC lifted its holdings in shares of Taysha Gene Therapies by 5.1% in the third quarter. Quantum Private Wealth LLC now owns 767,616 shares of the company’s stock valued at $1,543,000 after purchasing an additional 37,096 shares in the last quarter. 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.