Citizens Jmp Reaffirms Market Outperform Rating for Taysha Gene Therapies (NASDAQ:TSHA)

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “market outperform” rating restated by research analysts at Citizens Jmp in a research note issued on Thursday,Benzinga reports. They currently have a $11.00 target price on the stock. Citizens Jmp’s target price indicates a potential upside of 65.41% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. 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. Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday. BMO Capital Markets increased their target price on Taysha Gene Therapies from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Taysha Gene Therapies has an average rating of “Buy” and an average target price of $12.62.

Taysha Gene Therapies Stock Performance

Shares of TSHA stock opened at $6.65 on Thursday. 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 50 day moving average price of $6.14 and a 200-day moving average price of $5.32. Taysha Gene Therapies has a 52 week low of $2.33 and a 52 week high of $7.30. The firm has a market capitalization of $1.91 billion, a PE ratio of -17.50 and a beta of 1.17.

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

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $4.46, for a total transaction of $892,000.00. Following the completion of the sale, the insider owned 1,136,410 shares of the company’s stock, valued at approximately $5,068,388.60. The trade was a 14.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.78% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently bought and sold shares of TSHA. Vestal Point Capital LP lifted its position in shares of Taysha Gene Therapies by 150.0% during the 4th quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock valued at $75,625,000 after buying an additional 8,250,000 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Taysha Gene Therapies by 2.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 13,692,739 shares of the company’s stock worth $75,310,000 after acquiring an additional 309,031 shares during the period. Vanguard Group Inc. raised its stake in Taysha Gene Therapies by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 13,267,805 shares of the company’s stock worth $72,973,000 after acquiring an additional 418,192 shares during the period. Octagon Capital Advisors LP lifted its holdings in Taysha Gene Therapies by 17.7% during the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock valued at $29,089,000 after purchasing an additional 1,892,500 shares in the last quarter. Finally, State Street Corp lifted its holdings in Taysha Gene Therapies by 49.1% during the fourth quarter. State Street Corp now owns 10,790,084 shares of the company’s stock valued at $59,345,000 after purchasing an additional 3,553,619 shares in the last quarter. 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.