Taysha Gene Therapies (NASDAQ:TSHA) Given Buy Rating at Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $12.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 83.77% from the company’s current price.

A number of other brokerages have also recently issued reports on TSHA. Chardan Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, March 19th. Truist Financial raised Taysha Gene Therapies to a “strong-buy” rating in a report on Wednesday, March 25th. Canaccord Genuity Group raised their target price on Taysha Gene Therapies from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, April 6th. Wall Street Zen lowered Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.64.

Taysha Gene Therapies Stock Performance

Shares of Taysha Gene Therapies stock traded up $0.11 during trading on Monday, reaching $6.53. The company’s stock had a trading volume of 3,001,069 shares, compared to its average volume of 2,701,261. The company has a quick ratio of 14.04, a current ratio of 14.04 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $5.94 and its 200-day moving average price is $5.23. Taysha Gene Therapies has a 52 week low of $2.25 and a 52 week high of $7.30. The firm has a market cap of $1.88 billion, a PE ratio of -17.18 and a beta of 1.19.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Equities analysts forecast that Taysha Gene Therapies will post -0.5 earnings per share for the current year.

Insider Activity

In related news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $4.46, for a total value of $892,000.00. Following the completion of the sale, the insider directly 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 document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Marex Group plc acquired a new stake in Taysha Gene Therapies in the 2nd quarter valued at $29,000. E Fund Management Co. Ltd. bought a new stake in shares of Taysha Gene Therapies during the second quarter worth about $31,000. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in shares of Taysha Gene Therapies in the 3rd quarter worth about $40,000. Tower Research Capital LLC TRC raised its holdings in shares of Taysha Gene Therapies by 156.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock worth $41,000 after acquiring an additional 10,742 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Taysha Gene Therapies by 143.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock valued at $43,000 after acquiring an additional 4,607 shares in the last quarter. Institutional investors 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.