Truist Financial Upgrades Taysha Gene Therapies (NASDAQ:TSHA) to Strong-Buy

Taysha Gene Therapies (NASDAQ:TSHA) was upgraded by Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on TSHA. Wall Street Zen raised shares of Taysha Gene Therapies from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Wells Fargo & Company boosted their price target on shares of Taysha Gene Therapies from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. UBS Group set a $11.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, December 4th. The Goldman Sachs Group set a $11.00 price objective on Taysha Gene Therapies in a research report on Thursday, December 4th. Finally, Needham & Company LLC lifted their target price on Taysha Gene Therapies from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Taysha Gene Therapies presently has a consensus rating of “Buy” and a consensus target price of $11.09.

Taysha Gene Therapies Trading Down 5.7%

TSHA stock opened at $4.32 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 12.23 and a quick ratio of 12.23. Taysha Gene Therapies has a 1-year low of $1.05 and a 1-year high of $6.02. The business has a 50 day simple moving average of $4.59 and a two-hundred day simple moving average of $4.58. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -12.71 and a beta of 1.02.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 56.64%. The firm had revenue of $5.49 million for the quarter, compared to analysts’ expectations of $1.89 million. Research analysts anticipate that Taysha Gene Therapies will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 26,918 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $4.61, for a total transaction of $124,091.98. Following the completion of the transaction, the insider owned 1,317,389 shares in the company, valued at $6,073,163.29. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kamran Alam sold 23,849 shares of Taysha Gene Therapies stock in a transaction on Monday, January 26th. The stock was sold at an average price of $4.61, for a total transaction of $109,943.89. Following the completion of the transaction, the chief financial officer directly owned 1,443,786 shares of the company’s stock, valued at $6,655,853.46. The trade was a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 598,623 shares of company stock worth $2,822,188. Insiders own 3.78% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Several hedge funds have recently made changes to their positions in the business. B Group Inc. increased its stake in Taysha Gene Therapies by 43.4% during the second quarter. B Group Inc. now owns 1,800,556 shares of the company’s stock worth $4,159,000 after acquiring an additional 545,000 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Taysha Gene Therapies in the 3rd quarter valued at approximately $1,890,000. GSA Capital Partners LLP lifted its stake in shares of Taysha Gene Therapies by 969.0% in the 3rd quarter. GSA Capital Partners LLP now owns 477,749 shares of the company’s stock valued at $1,562,000 after purchasing an additional 433,059 shares during the last quarter. Ally Bridge Group NY LLC purchased a new position in shares of Taysha Gene Therapies in the 3rd quarter worth approximately $6,207,000. Finally, Affinity Asset Advisors LLC purchased a new position in shares of Taysha Gene Therapies in the 2nd quarter worth approximately $462,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

About Taysha Gene Therapies

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.