Needham & Company LLC Reiterates “Buy” Rating for Taysha Gene Therapies (NASDAQ:TSHA)

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 171.49% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Chardan Capital restated a “buy” rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, August 13th. Canaccord Genuity Group dropped their price objective on Taysha Gene Therapies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.38.

Taysha Gene Therapies Price Performance

Shares of NASDAQ TSHA opened at $2.21 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.22 and a current ratio of 5.22. Taysha Gene Therapies has a fifty-two week low of $1.19 and a fifty-two week high of $4.32. The stock has a market cap of $452.92 million, a PE ratio of -11.15 and a beta of 0.44. The stock has a fifty day moving average of $1.97 and a 200-day moving average of $2.39.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Taysha Gene Therapies had a negative return on equity of 168.91% and a negative net margin of 888.18%. The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $3.62 million. During the same period in the prior year, the business posted ($0.38) earnings per share. Equities research analysts anticipate that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several institutional investors and hedge funds have recently bought and sold shares of TSHA. Avoro Capital Advisors LLC raised its holdings in shares of Taysha Gene Therapies by 328.2% during the first quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company’s stock valued at $53,526,000 after acquiring an additional 14,294,445 shares in the last quarter. Artal Group S.A. increased its position 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 valued at $10,583,000 after purchasing an additional 24,444 shares during the period. StemPoint Capital LP bought a new position in Taysha Gene Therapies in the 1st quarter worth $3,122,000. Quantum Private Wealth LLC lifted its position in shares of Taysha Gene Therapies by 5.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 767,616 shares of the company’s stock worth $1,543,000 after purchasing an additional 37,096 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Taysha Gene Therapies by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 462,867 shares of the company’s stock valued at $930,000 after purchasing an additional 33,123 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

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.