Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Up 7.4% – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares rose 7.4% during mid-day trading on Friday . The company traded as high as $5.93 and last traded at $5.9950. Approximately 188,256 shares were traded during trading, a decline of 93% from the average daily volume of 2,635,431 shares. The stock had previously closed at $5.58.

Analyst Ratings Changes

TSHA has been the topic of a number of research reports. Canaccord Genuity Group boosted their price objective on Taysha Gene Therapies from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Needham & Company LLC upped their price target on Taysha Gene Therapies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Wall Street Zen cut Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Chardan Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Finally, Truist Financial upgraded Taysha Gene Therapies to a “strong-buy” rating in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.64.

Taysha Gene Therapies Stock Up 4.6%

The firm has a fifty day moving average price of $5.74 and a 200 day moving average price of $5.17. 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 company has a market cap of $1.68 billion, a P/E ratio of -15.36 and a beta of 1.19.

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

Insider Activity at Taysha Gene Therapies

In other 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 transaction of $892,000.00. Following the sale, the insider owned 1,136,410 shares in the company, valued at approximately $5,068,388.60. This represents a 14.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.78% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Several large investors have recently made changes to their positions in the business. Intech Investment Management LLC grew its holdings in shares of Taysha Gene Therapies by 3.6% during the fourth quarter. Intech Investment Management LLC now owns 71,069 shares of the company’s stock worth $391,000 after purchasing an additional 2,443 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Taysha Gene Therapies by 1.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 166,541 shares of the company’s stock valued at $916,000 after acquiring an additional 2,504 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Taysha Gene Therapies by 26.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,311 shares of the company’s stock valued at $73,000 after acquiring an additional 2,765 shares during the period. Virtus Investment Advisers LLC lifted its stake in shares of Taysha Gene Therapies by 7.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 45,946 shares of the company’s stock valued at $253,000 after acquiring an additional 3,008 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Taysha Gene Therapies by 26.2% during the first 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. 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.