Taysha Gene Therapies’ (TSHA) Buy Rating Reiterated at Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $12.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 76.34% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group raised their price objective on Taysha Gene Therapies from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Wall Street Zen lowered shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Pivotal Research set a $14.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Citigroup reiterated an “outperform” rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Finally, Robert W. Baird increased their price objective on shares of Taysha Gene Therapies from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Taysha Gene Therapies has an average rating of “Buy” and a consensus target price of $12.62.

Taysha Gene Therapies Price Performance

Taysha Gene Therapies stock traded up $0.07 during midday trading on Tuesday, reaching $6.80. 5,131,935 shares of the stock traded hands, compared to its average volume of 2,869,540. The stock’s fifty day moving average is $6.13 and its 200-day moving average is $5.30. Taysha Gene Therapies has a 12 month low of $2.25 and a 12 month high of $7.30. 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 stock has a market cap of $1.96 billion, a P/E ratio of -17.93 and a beta of 1.19.

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

Insider Buying and Selling at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $4.46, for a total transaction of $892,000.00. Following the sale, the insider directly owned 1,136,410 shares of the company’s stock, valued at $5,068,388.60. This represents a 14.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of large investors have recently bought and sold shares of the business. Militia Capital Management LLC acquired a new stake in Taysha Gene Therapies in the first quarter valued at approximately $208,000. Seven Fleet Capital Management LP raised its stake in shares of Taysha Gene Therapies by 274.2% during the 1st quarter. Seven Fleet Capital Management LP now owns 625,708 shares of the company’s stock worth $2,797,000 after buying an additional 458,485 shares during the period. Bank of America Corp DE raised its stake in shares of Taysha Gene Therapies by 45.5% during the 1st quarter. Bank of America Corp DE now owns 1,677,046 shares of the company’s stock worth $7,496,000 after buying an additional 524,366 shares during the period. ADAR1 Capital Management LLC lifted its position in shares of Taysha Gene Therapies by 19.4% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,979,429 shares of the company’s stock valued at $13,318,000 after buying an additional 483,620 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Taysha Gene Therapies by 48.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 99,371 shares of the company’s stock valued at $444,000 after buying an additional 32,286 shares in the last quarter. Institutional investors and hedge funds 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.