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

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) rose 6.9% during 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 mid-day trading, a decline of 68% from the average daily volume of 2,681,873 shares. The stock had previously closed at $4.37.

TSHA has been the subject of a number of other research reports. Chardan Capital restated a “buy” rating and issued a $12.00 price target on shares of Taysha Gene Therapies in a report on Thursday, March 19th. Truist Financial raised shares of Taysha Gene Therapies to a “strong-buy” rating in a research report on Wednesday, March 25th. Needham & Company LLC raised their price target on shares of Taysha Gene Therapies from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Taysha Gene Therapies from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.64.

Insider Buying and Selling

In other news, CFO Kamran Alam sold 78,968 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $4.75, for a total value of $375,098.00. Following the transaction, the chief financial officer owned 1,467,635 shares in the company, valued at $6,971,266.25. This represents a 5.11% decrease in their position. The sale 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 business’s stock in a transaction dated Friday, January 23rd. The shares were 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 trade represents a 4.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 598,623 shares of company stock worth $2,822,188 in the last three months. 3.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Several large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 buying an additional 22,373 shares during the period. Seven Fleet Capital Management LP acquired a new stake in shares of Taysha Gene Therapies during the 4th quarter worth about $920,000. Invesco Ltd. raised its stake in shares of Taysha Gene Therapies by 376.3% in the fourth quarter. Invesco Ltd. now owns 1,332,780 shares of the company’s stock valued at $7,330,000 after acquiring an additional 1,052,987 shares during the last quarter. Oracle Investment Management Inc. bought 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 position in shares of Taysha Gene Therapies during the fourth quarter worth approximately $301,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Price Performance

The stock has a 50-day simple moving average of $4.54 and a 200 day simple moving average of $4.65. The company has a debt-to-equity ratio of 0.20, a quick ratio of 12.23 and a current ratio of 12.23. The stock has a market capitalization of $1.31 billion, a P/E ratio of -13.54 and a beta of 1.10.

Taysha Gene Therapies (NASDAQ:TSHA) last released its earnings results on Thursday, March 19th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $5.49 million for the quarter, compared to analyst estimates of $1.89 million. On average, equities analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 earnings per share 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.