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Taking a look at what insiders are doing to gauge the Taysha Gene Therapies Inc (TSHA)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Taysha Gene Therapies Inc shares valued at $163,000 were purchased by Manning Paul B on Nov 17 ’23. At $1.63 per share, Manning Paul B acquired 100,000 shares. The insider’s holdings grew to 16,566,667 shares worth approximately $40.09 million following the completion of this transaction.

Also, Alam Kamran sold 33,000 shares, netting a total of over 76,890 in proceeds. Following the sale of shares at $2.33 each, the insider now holds 258,042 shares.

Before that, Manning Paul B had added 16,466,667 shares to its account. In a trade valued at $14,820,000, the 10% Owner bought Taysha Gene Therapies Inc shares for $0.90 each. Upon closing the transaction, the insider’s holdings increased to 16,466,667 shares, worth approximately $39.85 million.

As published in their initiating research note from Piper Sandler on April 09, 2024, Taysha Gene Therapies Inc [TSHA] has been an Overweight and the price target has been revised to $9. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early February. As of January 27, 2023, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for TSHA. Earlier on November 09, 2022, Goldman downgraded its rating. Their new recommendation was “a Neutral” for TSHA stock which previously was a “a Buy”.

Analyzing TSHA Stock Performance

During the last five days, there has been a surge of approximately 2.98%. Over the course of the year, Taysha Gene Therapies Inc shares have jumped approximately 36.72%. Shares of the company reached a 52-week high of $3.55 on 03/01/24 and a 52-week low of $1.38 on 01/19/24. A 50-day SMA is recorded $2.65, while a 200-day SMA reached $2.12. Nevertheless, trading volume fell to 1.4 million shares from 1.17 million shares the previous day.

Support And Resistance Levels for Taysha Gene Therapies Inc (TSHA)

According to the 24-hour chart, there is a support level at 2.35, which, if violated, would cause prices to drop to 2.27. In the upper region, resistance lies at 2.50. The next price resistance is at 2.58. RSI (Relative Strength Index) is 45.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.04, which suggests the price will decrease in the coming days. Percent R is at 75.77%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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