Taysha Gene Therapies (NASDAQ:TSHA) Earns Strong-Buy Rating from Analysts at Raymond James Financial

Raymond James Financial initiated coverage on shares of Taysha Gene Therapies (NASDAQ:TSHA) in a research note published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a strong-buy rating and a $13.00 price target on the stock.

A number of other equities research analysts have also commented on the stock. Wells Fargo & Company upped their price objective on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Robert W. Baird upped their price objective on shares of Taysha Gene Therapies from $7.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Taysha Gene Therapies in a research report on Friday, October 17th. Finally, Chardan Capital reiterated a “buy” rating and set a $12.00 target price on shares of Taysha Gene Therapies in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.67.

Taysha Gene Therapies Stock Performance

NASDAQ:TSHA opened at $4.94 on Tuesday. The firm’s fifty day moving average is $3.63 and its 200-day moving average is $2.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 12.48 and a current ratio of 12.48. Taysha Gene Therapies has a 52 week low of $1.05 and a 52 week high of $5.51. The firm has a market cap of $1.35 billion, a P/E ratio of -14.53 and a beta of 0.99.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 firm 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 will post -0.35 earnings per share for the current year.

Insider Activity

In related news, insider Sukumar Nagendran sold 200,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total transaction of $646,000.00. Following the transaction, the insider owned 1,006,439 shares in the company, valued at $3,250,797.97. The trade was a 16.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TSHA. Jefferies Financial Group Inc. raised its holdings in Taysha Gene Therapies by 4,105.3% during the second quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock worth $23,825,000 after buying an additional 10,068,479 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Taysha Gene Therapies during the second quarter worth $11,178,000. MPM Bioimpact LLC acquired a new position in Taysha Gene Therapies during the second quarter worth $6,823,000. Octagon Capital Advisors LP raised its holdings in Taysha Gene Therapies by 17.7% during the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock worth $29,089,000 after buying an additional 1,892,500 shares during the last quarter. Finally, Stempoint Capital LP acquired a new position in Taysha Gene Therapies during the second quarter worth $2,781,000. Institutional investors and hedge funds 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.