Taysha Gene Therapies (NASDAQ:TSHA) Hits New 12-Month High – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $6.81 and last traded at $6.6250, with a volume of 254924 shares trading hands. The stock had previously closed at $6.64.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Chardan Capital reaffirmed a “buy” rating and set a $12.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, March 19th. Truist Financial upgraded Taysha Gene Therapies to a “strong-buy” rating in a research report on Wednesday, March 25th. Wells Fargo & Company increased their price target on Taysha Gene Therapies from $8.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Needham & Company LLC increased their price objective on Taysha Gene Therapies from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.64.

Taysha Gene Therapies Trading Up 0.8%

The company has a debt-to-equity ratio of 0.20, a current ratio of 12.23 and a quick ratio of 12.23. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -19.61 and a beta of 1.25. The business has a 50 day simple moving average of $4.95 and a 200 day simple moving average of $4.89.

Taysha Gene Therapies (NASDAQ:TSHA) last released its 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 firm had revenue of $5.49 million for the quarter, compared to the consensus estimate of $1.89 million. As a group, equities analysts forecast that Taysha Gene Therapies, Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $4.46, for a total value of $892,000.00. Following the transaction, the insider owned 1,136,410 shares of the company’s stock, valued at approximately $5,068,388.60. This represents a 14.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Several hedge funds have recently added to or reduced their stakes in TSHA. AQR Capital Management LLC lifted its stake in Taysha Gene Therapies by 325.6% in the first quarter. AQR Capital Management LLC now owns 107,899 shares of the company’s stock valued at $150,000 after buying an additional 82,545 shares during the period. Rhumbline Advisers increased its holdings in shares of Taysha Gene Therapies by 13.5% in the second quarter. Rhumbline Advisers now owns 233,256 shares of the company’s stock worth $539,000 after acquiring an additional 27,794 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Taysha Gene Therapies by 50.5% in the second quarter. Prudential Financial Inc. now owns 22,790 shares of the company’s stock worth $53,000 after acquiring an additional 7,650 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Taysha Gene Therapies by 27.4% in the second quarter. Invesco Ltd. now owns 203,671 shares of the company’s stock worth $470,000 after acquiring an additional 43,772 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Taysha Gene Therapies in the second quarter worth about $184,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

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.