Canaccord Genuity Group Issues Positive Forecast for Taysha Gene Therapies (NASDAQ:TSHA) Stock Price

Taysha Gene Therapies (NASDAQ:TSHA) had its price target lifted by equities research analysts at Canaccord Genuity Group from $14.00 to $17.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 262.09% from the company’s current price.

Several other equities analysts have also issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Friday, March 27th. Chardan Capital restated a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, March 19th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $13.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, January 6th. Truist Financial raised shares of Taysha Gene Therapies to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Needham & Company LLC boosted 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. 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 data from MarketBeat.com, Taysha Gene Therapies currently has an average rating of “Buy” and a consensus price target of $11.64.

Taysha Gene Therapies Trading Up 7.4%

Shares of Taysha Gene Therapies stock traded up $0.33 on Monday, hitting $4.70. 2,239,191 shares of the company’s stock traded hands, compared to its average volume of 2,707,082. The firm’s 50-day moving average price is $4.54 and its two-hundred day moving average price is $4.65. 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 stock has a market capitalization of $1.35 billion, a PE ratio of -13.81 and a beta of 1.10. Taysha Gene Therapies has a one year low of $1.05 and a one year high of $6.02.

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

Insider Buying and Selling

In other Taysha Gene Therapies news, CEO Sean P. Nolan sold 41,312 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $4.61, for a total transaction of $190,448.32. Following the completion of the transaction, the chief executive officer owned 2,908,257 shares in the company, valued at approximately $13,407,064.77. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sukumar Nagendran sold 26,918 shares of Taysha Gene Therapies stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $4.61, for a total value of $124,091.98. Following the completion of the sale, the insider directly owned 1,317,389 shares in the company, valued at $6,073,163.29. This represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 598,623 shares of company stock worth $2,822,188 over the last ninety days. Company insiders own 3.78% of the company’s stock.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently bought and sold shares of TSHA. AQR Capital Management LLC boosted its position in Taysha Gene Therapies by 325.6% during the 1st quarter. AQR Capital Management LLC now owns 107,899 shares of the company’s stock worth $150,000 after acquiring an additional 82,545 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Taysha Gene Therapies by 13.5% in the second quarter. Rhumbline Advisers now owns 233,256 shares of the company’s stock valued at $539,000 after purchasing an additional 27,794 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Taysha Gene Therapies by 50.5% in the second quarter. Prudential Financial Inc. now owns 22,790 shares of the company’s stock worth $53,000 after purchasing an additional 7,650 shares in the last quarter. Invesco Ltd. lifted its position in shares of Taysha Gene Therapies by 27.4% in the second quarter. Invesco Ltd. now owns 203,671 shares of the company’s stock worth $470,000 after purchasing an additional 43,772 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Taysha Gene Therapies during the second quarter worth $184,000. 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.