Wells Fargo & Company Boosts Taysha Gene Therapies (NASDAQ:TSHA) Price Target to $8.00

Taysha Gene Therapies (NASDAQ:TSHA) had its price objective lifted by investment analysts at Wells Fargo & Company from $7.50 to $8.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 172.11% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, July 1st. Bank of America began coverage on Taysha Gene Therapies in a research report on Friday, July 11th. They set a “buy” rating and a $8.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a research report on Thursday, May 29th. Finally, Canaccord Genuity Group boosted their price objective on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.29.

Taysha Gene Therapies Trading Down 3.0%

Shares of TSHA opened at $2.94 on Wednesday. Taysha Gene Therapies has a 52-week low of $1.05 and a 52-week high of $3.31. The business’s fifty day moving average is $2.60 and its 200-day moving average is $2.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.35 and a current ratio of 12.48. The firm has a market cap of $631.10 million, a price-to-earnings ratio of -8.65 and a beta of 0.98.

Taysha Gene Therapies (NASDAQ:TSHA) last issued 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 net margin of 1,144.97% and a negative return on equity of 78.44%. The business had revenue of $1.99 million during the quarter, compared to the consensus estimate of $1.61 million. Equities analysts anticipate that Taysha Gene Therapies will post -0.35 EPS for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In related news, major shareholder Paul B. Manning purchased 750,000 shares of Taysha Gene Therapies stock in a transaction on Friday, May 30th. The shares were purchased at an average price of $2.75 per share, for a total transaction of $2,062,500.00. Following the transaction, the insider owned 2,841,704 shares of the company’s stock, valued at approximately $7,814,686. This represents a 35.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.78% of the company’s stock.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of institutional investors have recently made changes to their positions in TSHA. Avoro Capital Advisors LLC boosted its position in shares of Taysha Gene Therapies by 7.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 19,999,999 shares of the company’s stock valued at $34,600,000 after purchasing an additional 1,349,999 shares in the last quarter. Octagon Capital Advisors LP boosted its position in shares of Taysha Gene Therapies by 2.4% during the 1st quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company’s stock valued at $14,873,000 after purchasing an additional 250,000 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in shares of Taysha Gene Therapies by 4,105.3% during the 2nd quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock valued at $23,825,000 after purchasing an additional 10,068,479 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Taysha Gene Therapies by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 8,906,764 shares of the company’s stock valued at $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 stake in shares of Taysha Gene Therapies during the 4th quarter valued at about $8,650,000. Institutional investors own 77.70% of the company’s stock.

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.