Taysha Gene Therapies (NASDAQ:TSHA) Reaches New 12-Month High – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.95 and last traded at $5.8950, with a volume of 502152 shares changing hands. The stock had previously closed at $5.79.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TSHA. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Taysha Gene Therapies in a research report on Friday, November 14th. UBS Group set a $11.00 price target on shares of Taysha Gene Therapies in a research note on Thursday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Taysha Gene Therapies in a report on Friday, October 17th. Chardan Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised Taysha Gene Therapies from a “sell” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Taysha Gene Therapies presently has an average rating of “Moderate Buy” and an average price target of $10.42.

Taysha Gene Therapies Stock Up 1.2%

The stock has a market capitalization of $1.60 billion, a P/E ratio of -17.74 and a beta of 1.06. The company has a current ratio of 10.48, a quick ratio of 10.48 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $4.69 and its 200 day simple moving average is $3.48.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 67.26%. As a group, research analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Sukumar Nagendran sold 260,047 shares of Taysha Gene Therapies stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $4.51, for a total value of $1,172,811.97. Following the completion of the transaction, the insider owned 1,006,439 shares in the company, valued at approximately $4,539,039.89. This trade represents a 20.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jefferies Financial Group Inc. grew its holdings in shares of Taysha Gene Therapies by 4,105.3% during the second quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock valued at $23,825,000 after purchasing an additional 10,068,479 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Taysha Gene Therapies during the second quarter worth about $11,178,000. Barclays PLC grew its position in shares of Taysha Gene Therapies by 1,042.8% during the third quarter. Barclays PLC now owns 5,148,112 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,697,611 shares during the last quarter. MPM Bioimpact LLC acquired a new stake in shares of Taysha Gene Therapies in the 2nd quarter worth about $6,823,000. Finally, Vestal Point Capital LP lifted its position in Taysha Gene Therapies by 83.3% in the 3rd quarter. Vestal Point Capital LP now owns 5,500,000 shares of the company’s stock valued at $17,985,000 after purchasing an additional 2,500,000 shares during the last quarter. 77.70% of the stock is currently owned by institutional investors.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.