Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 6.9% After Analyst Upgrade

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) were up 6.9% during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $17.00. Canaccord Genuity Group currently has a buy rating on the stock. Taysha Gene Therapies traded as high as $4.64 and last traded at $4.6730. Approximately 850,762 shares were traded during trading, a decline of 68% from the average daily volume of 2,681,873 shares. The stock had previously closed at $4.37.

A number of other research firms have also recently issued reports on TSHA. Wells Fargo & Company upped their price objective on shares of Taysha Gene Therapies from $8.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $13.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Friday, March 27th. Chardan Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Finally, Truist Financial upgraded shares of Taysha Gene Therapies to a “strong-buy” rating in a research report on Wednesday, March 25th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $11.64.

Insider Buying and Selling at Taysha Gene Therapies

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the insider directly owned 1,006,439 shares in the company, valued at approximately $4,740,327.69. This represents a 16.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sean P. Nolan sold 136,789 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $4.75, for a total transaction of $649,747.75. Following the completion of the transaction, the chief executive officer owned 2,949,569 shares of the company’s stock, valued at approximately $14,010,452.75. This trade represents a 4.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 598,623 shares of company stock worth $2,822,188. 3.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its holdings in Taysha Gene Therapies by 698.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 25,577 shares of the company’s stock valued at $141,000 after acquiring an additional 22,373 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in Taysha Gene Therapies in the fourth quarter valued at approximately $920,000. Invesco Ltd. increased its position in shares of Taysha Gene Therapies by 376.3% during the fourth quarter. Invesco Ltd. now owns 1,332,780 shares of the company’s stock worth $7,330,000 after buying an additional 1,052,987 shares during the period. Oracle Investment Management Inc. acquired a new stake in shares of Taysha Gene Therapies during the fourth quarter worth $1,458,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Taysha Gene Therapies during the fourth quarter worth $301,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 12.23 and a quick ratio of 12.23. The company’s 50-day moving average price is $4.54 and its two-hundred day moving average price is $4.66. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -13.68 and a beta of 1.10.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The firm had revenue of $5.49 million for the quarter, compared to analyst estimates of $1.89 million. On average, equities research analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

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.