Taysha Gene Therapies (NASDAQ:TSHA) Shares Up 8.5% on Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) was up 8.5% during mid-day trading on Wednesday after Truist Financial upgraded the stock to a strong-buy rating. The company traded as high as $4.53 and last traded at $4.4810. Approximately 1,028,076 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,727,517 shares. The stock had previously closed at $4.13.

Other research analysts also recently issued research reports about the company. Chardan Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, March 19th. Needham & Company LLC upped their target price 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. Raymond James Financial restated a “strong-buy” rating and set a $13.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Monday, December 29th. Finally, Wall Street Zen raised Taysha Gene Therapies from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Taysha Gene Therapies has an average rating of “Buy” and a consensus price target of $11.09.

Insider Transactions at Taysha Gene Therapies

In related news, insider Sukumar Nagendran sold 26,918 shares of Taysha Gene Therapies stock in a transaction on Monday, January 26th. The shares were sold at an average price of $4.61, for a total transaction of $124,091.98. Following the transaction, the insider owned 1,317,389 shares in the company, valued at approximately $6,073,163.29. The trade was a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kamran Alam sold 23,849 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $109,943.89. Following the transaction, the chief financial officer owned 1,443,786 shares in the company, valued at approximately $6,655,853.46. This represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 598,623 shares of company stock valued at $2,822,188 over the last 90 days. Corporate insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Hedge funds have recently bought and sold shares of the company. Marex Group plc acquired a new stake in Taysha Gene Therapies during the second quarter valued at approximately $29,000. E Fund Management Co. Ltd. acquired a new position in shares of Taysha Gene Therapies in the 2nd quarter worth approximately $31,000. ST Germain D J Co. Inc. increased its holdings in shares of Taysha Gene Therapies by 81.8% in the 3rd quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company’s stock valued at $32,000 after acquiring an additional 4,333 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Taysha Gene Therapies in the 3rd quarter valued at approximately $40,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Taysha Gene Therapies by 156.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock valued at $41,000 after acquiring an additional 10,742 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Price Performance

The company has a 50 day moving average of $4.59 and a 200-day moving average of $4.58. The stock has a market capitalization of $1.24 billion, a P/E ratio of -12.71 and a beta of 1.02. The company has a quick ratio of 12.23, a current ratio of 12.23 and a debt-to-equity ratio of 0.20.

Taysha Gene Therapies (NASDAQ:TSHA) last released its earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 56.64%. The firm had revenue of $5.49 million during the quarter, compared to analyst estimates of $1.89 million. Sell-side analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

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.