Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Down - Here's Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s stock price 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 traded.

Wall Street Analysts Forecast Growth

TSHA has been the topic of several research reports. Needham & Company LLC reissued a "buy" rating and issued a $6.00 target price on shares of Taysha Gene Therapies in a report on Tuesday. Chardan Capital reissued a "buy" rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research note on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday. Canaccord Genuity Group lowered their price target on shares of Taysha Gene Therapies from $7.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $5.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Taysha Gene Therapies presently has an average rating of "Buy" and an average price target of $6.38.

Taysha Gene Therapies Price Performance

The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 0.35. The business's 50 day moving average price is $1.98 and its 200-day moving average price is $2.39. The company has a market cap of $465.22 million, a PE ratio of 3.60 and a beta of 0.44.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The company had revenue of $1.11 million for the quarter, compared to analyst estimates of $3.62 million. Taysha Gene Therapies had a negative return on equity of 168.91% and a negative net margin of 888.18%. During the same period in the prior year, the company posted ($0.38) EPS. As a group, analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Institutional investors have recently made changes to their positions in the company. Avoro Capital Advisors LLC increased its stake 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 purchasing an additional 14,294,445 shares during the period. StemPoint Capital LP acquired a new position in Taysha Gene Therapies during the 1st quarter worth $3,122,000. Bank of New York Mellon Corp bought a new position in shares of Taysha Gene Therapies in the second quarter worth $1,018,000. Los Angeles Capital Management LLC acquired a new position in shares of Taysha Gene Therapies during the third quarter valued at $416,000. Finally, Rhumbline Advisers bought a new stake in shares of Taysha Gene Therapies during the second quarter valued at about $413,000. 77.70% of the stock is currently owned by institutional investors.

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.