Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 7.4% – Time to Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares were up 7.4% on Tuesday . The company traded as high as $5.78 and last traded at $5.7760. Approximately 1,894,039 shares traded hands during trading, a decline of 34% from the average session volume of 2,891,302 shares. The stock had previously closed at $5.38.

Analyst Upgrades and Downgrades

TSHA has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, June 30th. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Pivotal Research set a $14.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Chardan Capital reissued a “buy” rating and issued a $12.00 price target on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Taysha Gene Therapies currently has an average rating of “Buy” and an average price target of $12.62.

Taysha Gene Therapies Stock Up 8.6%

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 has a 50-day moving average of $6.09 and a two-hundred day moving average of $5.35. The company has a market capitalization of $1.78 billion, a PE ratio of -16.29 and a beta of 1.17.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings data 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). Sell-side analysts anticipate that Taysha Gene Therapies, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $6.24, for a total value of $1,248,000.00. Following the completion of the transaction, the insider owned 936,410 shares of the company’s stock, valued at $5,843,198.40. This represents a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Several hedge funds have recently modified their holdings of TSHA. Intech Investment Management LLC boosted its position in Taysha Gene Therapies by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 71,069 shares of the company’s stock valued at $391,000 after buying an additional 2,443 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Taysha Gene Therapies by 1.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 166,541 shares of the company’s stock worth $916,000 after acquiring an additional 2,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Taysha Gene Therapies by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,311 shares of the company’s stock valued at $73,000 after buying an additional 2,765 shares in the last quarter. Virtus Investment Advisers LLC raised its position in shares of Taysha Gene Therapies by 7.0% in the 4th quarter. Virtus Investment Advisers LLC now owns 45,946 shares of the company’s stock valued at $253,000 after purchasing an additional 3,008 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Taysha Gene Therapies by 26.2% in the 1st quarter. Principal Financial Group Inc. now owns 16,185 shares of the company’s stock valued at $72,000 after acquiring an additional 3,362 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.

About Taysha Gene Therapies

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.