Wolfe Research Begins Coverage on Taysha Gene Therapies (NASDAQ:TSHA)

Equities research analysts at Wolfe Research assumed coverage on shares of Taysha Gene Therapies (NASDAQ:TSHA) in a report issued on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating on the stock.

TSHA has been the topic of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Taysha Gene Therapies in a report on Wednesday, June 24th. Robert W. Baird boosted their target price on Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. The Goldman Sachs Group increased their target price on shares of Taysha Gene Therapies from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. Finally, Pivotal Research set a $14.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Taysha Gene Therapies presently has an average rating of “Buy” and a consensus price target of $12.77.

Taysha Gene Therapies Trading Up 0.2%

TSHA stock opened at $5.07 on Thursday. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -12.07 and a beta of 1.19. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $5.85 and a 200-day simple moving average of $5.66. Taysha Gene Therapies has a 52 week low of $2.71 and a 52 week high of $7.30.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). On average, equities research analysts expect that Taysha Gene Therapies will post -0.52 EPS for the current year.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the transaction, the insider directly owned 936,410 shares of the company’s stock, valued at approximately $5,843,198.40. The trade was a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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

A number of institutional investors have recently added to or reduced their stakes in TSHA. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Taysha Gene Therapies in the 4th quarter worth about $20,471,000. Wellington Management Group LLP lifted its holdings in Taysha Gene Therapies by 534.7% in the 2nd quarter. Wellington Management Group LLP now owns 3,975,605 shares of the company’s stock valued at $27,074,000 after acquiring an additional 3,349,244 shares during the last quarter. Polar Capital Holdings Plc boosted its position in shares of Taysha Gene Therapies by 49.8% during the 4th quarter. Polar Capital Holdings Plc now owns 7,931,403 shares of the company’s stock valued at $43,623,000 after purchasing an additional 2,637,524 shares in the last quarter. Casdin Capital LLC bought a new stake in shares of Taysha Gene Therapies in the 4th quarter worth approximately $8,250,000. Finally, SG Americas Securities LLC lifted its stake in Taysha Gene Therapies by 178.5% during the first quarter. SG Americas Securities LLC now owns 2,176,742 shares of the company’s stock valued at $9,730,000 after purchasing an additional 1,395,268 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc is a clinical-stage biotechnology company developing gene therapies for severe monogenic diseases of the central nervous system. The company focuses on disorders in which a missing or defective gene contributes to neurological disease and uses adeno-associated virus (AAV) vectors to deliver functional genetic material to targeted cells.

Taysha’s development programs have included TSHA-102, an investigational gene therapy for Rett syndrome, and earlier programs such as TSHA-120 for giant axonal neuropathy and TSHA-101 for GM1 gangliosidosis.