Taysha Gene Therapies (NASDAQ:TSHA) Shares Up 5.7% – Still a Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price rose 5.7% on Monday. The company traded as high as $4.91 and last traded at $4.9360. 1,725,473 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 2,924,317 shares. The stock had previously closed at $4.67.

Wall Street Analysts Forecast Growth

TSHA has been the topic of several research reports. Wolfe Research started coverage on shares of Taysha Gene Therapies in a report on Thursday, September 17th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Monday, September 21st. Citizens Jmp reissued a “market outperform” rating and set a $11.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, July 2nd. Robert W. Baird boosted their price target on Taysha Gene Therapies from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Taysha Gene Therapies currently has an average rating of “Buy” and an average target price of $12.77.

Taysha Gene Therapies Stock Performance

The company has a market cap of $1.63 billion, a price-to-earnings ratio of -11.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.76 and a current ratio of 17.76. The business’s 50 day moving average price is $5.67 and its 200-day moving average price is $5.69.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). On average, research analysts forecast that Taysha Gene Therapies, Inc. will post -0.52 EPS for the current year.

Insider Buying and Selling

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the sale, the insider directly owned 936,410 shares of the company’s stock, valued at approximately $5,843,198.40. The trade was a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds have recently modified their holdings of TSHA. Engineers Gate Manager LP acquired a new stake in Taysha Gene Therapies in the 2nd quarter valued at $709,000. Squarepoint Ops LLC raised its stake in Taysha Gene Therapies by 38.8% during the second quarter. Squarepoint Ops LLC now owns 569,269 shares of the company’s stock worth $3,877,000 after acquiring an additional 158,987 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Taysha Gene Therapies by 5.4% during the second quarter. Arizona State Retirement System now owns 39,633 shares of the company’s stock valued at $270,000 after acquiring an additional 2,014 shares during the period. Seven Fleet Capital Management LP lifted its holdings in shares of Taysha Gene Therapies by 140.4% during the second quarter. Seven Fleet Capital Management LP now owns 1,504,400 shares of the company’s stock valued at $9,940,000 after acquiring an additional 878,692 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Taysha Gene Therapies by 534.7% in the 2nd quarter. Wellington Management Group LLP now owns 3,975,605 shares of the company’s stock valued at $27,074,000 after purchasing an additional 3,349,244 shares in the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc is a clinical-stage biotechnology company developing gene therapies for severe monogenic diseases of the central nervous system. The company focuses on disorders in which a missing or defective gene contributes to neurological disease and uses adeno-associated virus (AAV) vectors to deliver functional genetic material to targeted cells.

Taysha’s development programs have included TSHA-102, an investigational gene therapy for Rett syndrome, and earlier programs such as TSHA-120 for giant axonal neuropathy and TSHA-101 for GM1 gangliosidosis.