Needham & Company LLC Issues Positive Forecast for Taysha Gene Therapies (NASDAQ:TSHA) Stock Price

Taysha Gene Therapies (NASDAQ:TSHA) had its price target boosted by Needham & Company LLC from $8.00 to $10.00 in a research note released on Thursday, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Bank of America initiated coverage on shares of Taysha Gene Therapies in a report on Friday, July 11th. They set a “buy” rating and a $8.00 price objective on the stock. Chardan Capital increased their price objective on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company increased their price objective on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $9.00.

Taysha Gene Therapies Stock Up 53.5%

TSHA stock opened at $4.88 on Thursday. The firm has a market cap of $1.33 billion, a PE ratio of -14.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 12.48 and a current ratio of 12.48. The firm’s fifty day moving average is $2.98 and its 200 day moving average is $2.45. Taysha Gene Therapies has a one year low of $1.05 and a one year high of $4.92.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $1.99 million for the quarter, compared to analyst estimates of $1.61 million. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. On average, research analysts forecast that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Buying and Selling at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total value of $646,000.00. Following the transaction, the insider directly owned 1,006,439 shares of the company’s stock, valued at approximately $3,250,797.97. This trade represents a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of institutional investors have recently bought and sold shares of TSHA. Marex Group plc purchased a new position in Taysha Gene Therapies during the second quarter worth about $29,000. E Fund Management Co. Ltd. purchased a new position in Taysha Gene Therapies during the second quarter worth about $31,000. May Hill Capital LLC purchased a new position in Taysha Gene Therapies during the second quarter worth about $37,000. Ameriprise Financial Inc. acquired a new stake in shares of Taysha Gene Therapies during the fourth quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Taysha Gene Therapies by 156.5% during the second quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock valued at $41,000 after acquiring an additional 10,742 shares during the last quarter. 77.70% of the stock is owned by hedge funds and other 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.