Canaccord Genuity Group Issues Positive Forecast for Taysha Gene Therapies (NASDAQ:TSHA) Stock Price

Taysha Gene Therapies (NASDAQ:TSHA) had its price objective boosted by Canaccord Genuity Group from $14.00 to $17.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Wall Street Zen upgraded Taysha Gene Therapies from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Truist Financial upgraded Taysha Gene Therapies to a “strong-buy” rating in a research report on Wednesday, March 25th. Needham & Company LLC increased their price objective on Taysha Gene Therapies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Wells Fargo & Company increased their price objective on Taysha Gene Therapies from $8.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $13.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Taysha Gene Therapies presently has a consensus rating of “Buy” and a consensus price target of $11.64.

Taysha Gene Therapies Trading Up 6.4%

Shares of NASDAQ TSHA opened at $4.65 on Monday. Taysha Gene Therapies has a 1-year low of $1.05 and a 1-year high of $6.02. The company has a 50-day moving average of $4.54 and a two-hundred day moving average of $4.66. The company has a market cap of $1.34 billion, a PE ratio of -13.68 and a beta of 1.10. The company has a current ratio of 12.23, a quick ratio of 12.23 and a debt-to-equity ratio of 0.20.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $5.49 million during the quarter, compared to analyst estimates of $1.89 million. As a group, equities analysts expect that Taysha Gene Therapies will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the transaction, the insider directly owned 1,006,439 shares in the company, valued at $4,740,327.69. This trade represents a 16.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean P. Nolan sold 136,789 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $4.75, for a total value of $649,747.75. Following the completion of the transaction, the chief executive officer owned 2,949,569 shares in the company, valued at $14,010,452.75. This represents a 4.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 598,623 shares of company stock worth $2,822,188 in the last three months. Insiders own 3.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its position in shares of Taysha Gene Therapies by 143.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock worth $43,000 after purchasing an additional 4,607 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Taysha Gene Therapies by 81.8% in the 3rd quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company’s stock worth $32,000 after purchasing an additional 4,333 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Taysha Gene Therapies in the 4th quarter worth $59,000. Guggenheim Capital LLC acquired a new stake in Taysha Gene Therapies during the 4th quarter worth $61,000. Finally, Panagora Asset Management Inc. acquired a new stake in Taysha Gene Therapies during the 4th quarter worth $64,000. 77.70% of the stock is currently owned by institutional investors.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.