Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Up 7.4% – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares traded up 7.4% during mid-day trading on Friday . The stock traded as high as $5.93 and last traded at $5.9950. 188,256 shares were traded during trading, a decline of 93% from the average session volume of 2,635,431 shares. The stock had previously closed at $5.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial raised Taysha Gene Therapies to a “strong-buy” rating in a research note on Wednesday, March 25th. Needham & Company LLC upped their price target on Taysha Gene Therapies from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Friday, March 27th. Chardan Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Taysha Gene Therapies in a research note on Thursday, March 19th. Finally, Wall Street Zen lowered Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $11.64.

Taysha Gene Therapies Stock Performance

The stock has a 50-day moving average of $5.74 and a 200-day moving average of $5.17. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -15.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 14.04 and a current ratio of 14.04.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its 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, analysts anticipate that Taysha Gene Therapies, Inc. will post -0.5 EPS for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $4.46, for a total transaction of $892,000.00. Following the completion of the transaction, the insider directly owned 1,136,410 shares in the company, valued at approximately $5,068,388.60. The trade was a 14.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TSHA. Marex Group plc bought a new position in shares of Taysha Gene Therapies during the 2nd quarter worth approximately $29,000. E Fund Management Co. Ltd. acquired a new stake in Taysha Gene Therapies during the 2nd quarter worth approximately $31,000. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Taysha Gene Therapies during the 3rd quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its holdings in Taysha Gene Therapies by 156.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock worth $41,000 after purchasing an additional 10,742 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Taysha Gene Therapies by 143.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock worth $43,000 after purchasing an additional 4,607 shares during the last quarter. 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.