Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Up After Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares gapped up prior to trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $7.50 to $8.00. The stock had previously closed at $2.91, but opened at $3.06. Wells Fargo & Company currently has an overweight rating on the stock. Taysha Gene Therapies shares last traded at $3.07, with a volume of 1,157,565 shares changing hands.

Several other equities research analysts have also issued reports on TSHA. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, July 1st. Canaccord Genuity Group upped their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research report on Monday, April 28th. JMP Securities upped their price target on Taysha Gene Therapies from $5.00 to $6.00 and gave the company a “market outperform” rating in a research report on Thursday, May 29th. Finally, Chardan Capital increased their target price on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $8.29.

Insider Activity

In other news, major shareholder Paul B. Manning purchased 750,000 shares of Taysha Gene Therapies stock in a transaction dated Friday, May 30th. The stock was bought at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the acquisition, the insider owned 2,841,704 shares in the company, valued at $7,814,686. The trade was a 35.86% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Several hedge funds and other institutional investors have recently modified their holdings of TSHA. Avoro Capital Advisors LLC grew its stake in shares of Taysha Gene Therapies by 7.2% in the fourth quarter. Avoro Capital Advisors LLC now owns 19,999,999 shares of the company’s stock worth $34,600,000 after purchasing an additional 1,349,999 shares in the last quarter. Octagon Capital Advisors LP grew its stake in shares of Taysha Gene Therapies by 2.4% in the first quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company’s stock worth $14,873,000 after purchasing an additional 250,000 shares in the last quarter. Jefferies Financial Group Inc. grew its stake in shares of Taysha Gene Therapies by 4,105.3% in the second quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock worth $23,825,000 after purchasing an additional 10,068,479 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Taysha Gene Therapies by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 8,906,764 shares of the company’s stock worth $15,409,000 after purchasing an additional 641,305 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Taysha Gene Therapies in the fourth quarter worth $8,650,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Stock Performance

The company has a market cap of $650.42 million, a P/E ratio of -8.91 and a beta of 0.98. The company has a 50 day moving average price of $2.60 and a 200-day moving average price of $2.10. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.77.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Taysha Gene Therapies had a negative return on equity of 126.78% and a negative net margin of 1,144.97%. The business had revenue of $1.99 million during the quarter, compared to the consensus estimate of $1.61 million. Equities analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

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.