Taysha Gene Therapies (NASDAQ:TSHA) Price Target Raised to $17.00

Taysha Gene Therapies (NASDAQ:TSHA) had its price objective lifted by stock analysts at Canaccord Genuity Group from $14.00 to $17.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 262.09% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Taysha Gene Therapies from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Wells Fargo & Company lifted their price objective on Taysha Gene Therapies from $8.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Chardan Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, March 19th. Needham & Company LLC increased their target price on Taysha Gene Therapies from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Taysha Gene Therapies has an average rating of “Buy” and an average price target of $11.64.

Taysha Gene Therapies Stock Performance

Shares of NASDAQ TSHA traded up $0.33 during trading hours on Monday, reaching $4.70. The stock had a trading volume of 2,239,191 shares, compared to its average volume of 2,707,082. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -13.81 and a beta of 1.10. Taysha Gene Therapies has a twelve month low of $1.05 and a twelve month high of $6.02. The business’s fifty day moving average is $4.54 and its two-hundred day moving average is $4.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 12.23 and a quick ratio of 12.23.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $5.49 million for the quarter, compared to analyst estimates of $1.89 million. As a group, research analysts expect that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Activity at Taysha Gene Therapies

In other Taysha Gene Therapies news, CFO Kamran Alam sold 23,849 shares of Taysha Gene Therapies stock in a transaction on Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $109,943.89. Following the completion of the transaction, the chief financial officer owned 1,443,786 shares in the company, valued at approximately $6,655,853.46. The trade was a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sukumar Nagendran sold 26,918 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $124,091.98. Following the completion of the transaction, the insider directly owned 1,317,389 shares in the company, valued at approximately $6,073,163.29. This represents a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 598,623 shares of company stock valued at $2,822,188 in the last three months. Corporate insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors have recently modified their holdings of the stock. B Group Inc. raised its position in shares of Taysha Gene Therapies by 43.4% during the second quarter. B Group Inc. now owns 1,800,556 shares of the company’s stock worth $4,159,000 after acquiring an additional 545,000 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in Taysha Gene Therapies in the third quarter valued at about $1,890,000. Ally Bridge Group NY LLC acquired a new stake in Taysha Gene Therapies in the third quarter worth about $6,207,000. GSA Capital Partners LLP raised its holdings in Taysha Gene Therapies by 969.0% during the 3rd quarter. GSA Capital Partners LLP now owns 477,749 shares of the company’s stock worth $1,562,000 after purchasing an additional 433,059 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Taysha Gene Therapies during the 4th quarter worth about $1,697,000. 77.70% of the stock is owned by institutional investors.

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.