Taysha Gene Therapies’ (TSHA) Market Outperform Rating Reiterated at Citizens Jmp

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “market outperform” rating restated by Citizens Jmp in a research note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 price target on the stock. Citizens Jmp’s target price indicates a potential upside of 65.41% from the stock’s current price.

A number of other analysts have also recently commented on the company. Canaccord Genuity Group boosted their price target on Taysha Gene Therapies from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday. Pivotal Research set a $14.00 target price on Taysha Gene Therapies in a report on Tuesday, June 23rd. Citigroup reissued an “outperform” rating on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. Finally, Robert W. Baird increased their target price on Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Taysha Gene Therapies has an average rating of “Buy” and an average target price of $12.62.

Taysha Gene Therapies Trading Down 2.3%

Shares of NASDAQ TSHA opened at $6.65 on Thursday. Taysha Gene Therapies has a 1 year low of $2.33 and a 1 year high of $7.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 14.04 and a quick ratio of 14.04. The firm has a 50-day moving average of $6.14 and a 200 day moving average of $5.32. The stock has a market cap of $1.91 billion, a P/E ratio of -17.50 and a beta of 1.17.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). As a group, sell-side analysts expect that Taysha Gene Therapies will post -0.5 EPS for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $4.46, for a total transaction of $892,000.00. Following the sale, the insider owned 1,136,410 shares in the company, valued at $5,068,388.60. This represents a 14.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds have recently added to or reduced their stakes in the company. Militia Capital Management LLC bought a new position in Taysha Gene Therapies in the 1st quarter valued at approximately $208,000. Seven Fleet Capital Management LP increased its holdings in shares of Taysha Gene Therapies by 274.2% in the 1st quarter. Seven Fleet Capital Management LP now owns 625,708 shares of the company’s stock worth $2,797,000 after purchasing an additional 458,485 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Taysha Gene Therapies by 45.5% in the first quarter. Bank of America Corp DE now owns 1,677,046 shares of the company’s stock worth $7,496,000 after purchasing an additional 524,366 shares during the last quarter. ADAR1 Capital Management LLC lifted its holdings in shares of Taysha Gene Therapies by 19.4% during the first quarter. ADAR1 Capital Management LLC now owns 2,979,429 shares of the company’s stock valued at $13,318,000 after purchasing an additional 483,620 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Taysha Gene Therapies by 48.1% during the first quarter. The Manufacturers Life Insurance Company now owns 99,371 shares of the company’s stock valued at $444,000 after purchasing an additional 32,286 shares in the last quarter. 77.70% of the stock is currently owned by hedge funds and other 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.