Taysha Gene Therapies (NASDAQ:TSHA) Shares Up 6.9% on Analyst Upgrade

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) traded up 6.9% on Monday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $17.00. Canaccord Genuity Group currently has a buy rating on the stock. Taysha Gene Therapies traded as high as $4.64 and last traded at $4.6730. 850,762 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,681,873 shares. The stock had previously closed at $4.37.

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

Insider Transactions at Taysha Gene Therapies

In other Taysha Gene Therapies news, CFO Kamran Alam sold 78,968 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $4.75, for a total value of $375,098.00. Following the completion of the transaction, the chief financial officer owned 1,467,635 shares in the company, valued at approximately $6,971,266.25. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the sale, the insider owned 1,006,439 shares of the company’s stock, valued at $4,740,327.69. This trade represents a 16.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 598,623 shares of company stock valued at $2,822,188. Corporate insiders own 3.78% of the company’s stock.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of large investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP increased its holdings in Taysha Gene Therapies by 150.0% during the 4th quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock valued at $75,625,000 after acquiring an additional 8,250,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Taysha Gene Therapies by 2.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 13,692,739 shares of the company’s stock valued at $75,310,000 after purchasing an additional 309,031 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Taysha Gene Therapies by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 13,267,805 shares of the company’s stock worth $72,973,000 after purchasing an additional 418,192 shares in the last quarter. Octagon Capital Advisors LP raised its position in shares of Taysha Gene Therapies by 17.7% during the 2nd quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock worth $29,089,000 after purchasing an additional 1,892,500 shares during the last quarter. Finally, State Street Corp raised its position in shares of Taysha Gene Therapies by 49.1% during the 4th quarter. State Street Corp now owns 10,790,084 shares of the company’s stock worth $59,345,000 after purchasing an additional 3,553,619 shares during the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

Taysha Gene Therapies Trading Up 4.7%

The business has a 50 day moving average of $4.54 and a 200-day moving average of $4.65. The stock has a market cap of $1.31 billion, a PE ratio of -13.54 and a beta of 1.10. The company has a current ratio of 12.23, a quick ratio of 12.23 and a debt-to-equity ratio of 0.20.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $5.49 million for the quarter, compared to analysts’ expectations of $1.89 million. On average, analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

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.