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 Wednesday . The stock had previously closed at $2.61, but opened at $2.55. Taysha Gene Therapies shares last traded at $2.51, with a volume of 262,070 shares changing hands.

Analyst Upgrades and Downgrades

TSHA has been the subject of a number of analyst reports. Canaccord Genuity Group increased their price target on shares of Taysha Gene Therapies from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, November 15th. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, November 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $6.63.

Taysha Gene Therapies Trading Down 1.1 %

The company has a market capitalization of $528.75 million, a PE ratio of 4.14 and a beta of 0.79. The company’s fifty day moving average is $2.09 and its 200-day moving average is $2.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.51 and a quick ratio of 5.51.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors have recently bought and sold shares of TSHA. Creative Planning purchased a new position in Taysha Gene Therapies during the third quarter valued at approximately $28,000. Principal Financial Group Inc. purchased a new position in Taysha Gene Therapies in the second quarter worth $48,000. China Universal Asset Management Co. Ltd. grew its holdings in Taysha Gene Therapies by 79.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 39,417 shares of the company’s stock worth $79,000 after purchasing an additional 17,446 shares during the last quarter. Intech Investment Management LLC purchased a new position in Taysha Gene Therapies in the third quarter worth $85,000. Finally, Scientech Research LLC purchased a new position in Taysha Gene Therapies in the second quarter worth $97,000. 77.70% of the stock is 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.