Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 7% – Still a Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) rose 7% during trading on Wednesday . The stock traded as high as $4.31 and last traded at $4.3450. Approximately 406,910 shares traded hands during trading, a decline of 89% from the average daily volume of 3,840,116 shares. The stock had previously closed at $4.06.

Analysts Set New Price Targets

TSHA has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Taysha Gene Therapies in a report on Friday, November 14th. Robert W. Baird increased their price target on shares of Taysha Gene Therapies from $7.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Taysha Gene Therapies in a report on Friday, October 17th. Finally, Wells Fargo & Company increased their price objective on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.30.

Taysha Gene Therapies Trading Up 7.3%

The company has a 50 day moving average of $4.42 and a 200-day moving average of $3.33. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -13.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.48 and a current ratio of 10.48.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 67.26%. On average, research analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 260,047 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $4.51, for a total transaction of $1,172,811.97. Following the sale, the insider directly owned 1,006,439 shares in the company, valued at $4,539,039.89. This represents a 20.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 570,172 shares of company stock worth $2,341,906. 3.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors have recently modified their holdings of TSHA. ST Germain D J Co. Inc. boosted its holdings in Taysha Gene Therapies by 81.8% in the third quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company’s stock valued at $32,000 after purchasing an additional 4,333 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Taysha Gene Therapies in the 3rd quarter valued at about $40,000. Marex Group plc purchased a new position in shares of Taysha Gene Therapies in the 2nd quarter valued at about $29,000. E Fund Management Co. Ltd. acquired a new stake in Taysha Gene Therapies in the second quarter valued at approximately $31,000. Finally, Allegheny Financial Group acquired a new position in Taysha Gene Therapies during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.