Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 8% – Should You Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price was up 8% during mid-day trading on Monday . The company traded as high as $5.98 and last traded at $5.96. 121,029 shares traded hands during trading, a decline of 96% from the average session volume of 2,879,094 shares. The stock had previously closed at $5.52.

Analyst Ratings Changes

TSHA has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Wednesday, June 24th. Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. The Goldman Sachs Group lifted their price objective on shares of Taysha Gene Therapies from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Canaccord Genuity Group boosted their price objective on shares of Taysha Gene Therapies from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Finally, Pivotal Research set a $14.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. Two 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 company. According to data from MarketBeat, Taysha Gene Therapies presently has a consensus rating of “Buy” and an average price target of $12.77.

Taysha Gene Therapies Price Performance

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 company’s 50-day simple moving average is $5.98 and its 200-day simple moving average is $5.37. The stock has a market capitalization of $1.57 billion, a P/E ratio of -14.37 and a beta of 1.17.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). As a group, sell-side analysts expect that Taysha Gene Therapies, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity

In related news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $6.24, for a total value of $1,248,000.00. Following the completion of the sale, the insider directly owned 936,410 shares in the company, valued at approximately $5,843,198.40. This trade represents a 17.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.48% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors have recently bought and sold shares of the business. Capricorn Fund Managers Ltd acquired a new stake in shares of Taysha Gene Therapies in the fourth quarter valued at approximately $1,650,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Taysha Gene Therapies during the 4th quarter worth approximately $1,697,000. SG Americas Securities LLC increased its holdings in shares of Taysha Gene Therapies by 2,271.8% during the 4th quarter. SG Americas Securities LLC now owns 781,474 shares of the company’s stock worth $4,298,000 after acquiring an additional 748,525 shares during the last quarter. Aberdeen Group plc bought a new stake in Taysha Gene Therapies in the 4th quarter valued at $5,616,000. Finally, Rice Hall James & Associates LLC raised its stake in Taysha Gene Therapies by 53.0% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,944,671 shares of the company’s stock valued at $8,693,000 after acquiring an additional 674,026 shares during the period. Institutional investors and hedge funds own 77.70% of the company’s stock.

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.