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

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) gapped up before the market opened on Wednesday . The stock had previously closed at $5.71, but opened at $5.92. Taysha Gene Therapies shares last traded at $5.9850, with a volume of 305,924 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSHA. Wall Street Zen raised shares of Taysha Gene Therapies from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Taysha Gene Therapies in a report on Friday, October 17th. Chardan Capital reissued a “buy” rating and issued a $12.00 price target on shares of Taysha Gene Therapies in a research report on Wednesday, November 5th. Finally, UBS Group set a $11.00 price target on Taysha Gene Therapies in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.42.

Taysha Gene Therapies Trading Up 4.0%

The firm’s 50 day moving average price is $4.80 and its 200-day moving average price is $3.62. The stock has a market cap of $1.63 billion, a P/E ratio of -18.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.48 and a quick ratio of 10.48.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 67.26%. As a group, equities research analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 260,047 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $4.51, for a total value of $1,172,811.97. Following the completion of the transaction, the insider owned 1,006,439 shares in the company, valued at $4,539,039.89. The trade was a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.78% of the company’s stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Several large investors have recently bought and sold shares of TSHA. CIBC Bancorp USA Inc. bought a new position in Taysha Gene Therapies during the 3rd quarter valued at about $74,000. Sender Co & Partners Inc. bought a new stake in shares of Taysha Gene Therapies in the third quarter worth approximately $89,000. Vestal Point Capital LP raised its holdings in shares of Taysha Gene Therapies by 83.3% during the third quarter. Vestal Point Capital LP now owns 5,500,000 shares of the company’s stock valued at $17,985,000 after purchasing an additional 2,500,000 shares during the last quarter. Polar Capital Holdings Plc lifted its position in Taysha Gene Therapies by 5.9% during the third quarter. Polar Capital Holdings Plc now owns 5,293,879 shares of the company’s stock valued at $17,311,000 after purchasing an additional 293,879 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Taysha Gene Therapies by 15.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,024 shares of the company’s stock valued at $362,000 after purchasing an additional 14,481 shares during the period. 77.70% of the stock is currently owned by institutional investors.

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.