Taysha Gene Therapies (NASDAQ:TSHA) Trading 8.5% Higher – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price was up 8.5% during mid-day trading on Wednesday . The company traded as high as $4.53 and last traded at $4.4810. Approximately 1,028,076 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,727,517 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Taysha Gene Therapies from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. UBS Group set a $11.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, December 4th. The Goldman Sachs Group set a $11.00 target price on Taysha Gene Therapies in a research report on Thursday, December 4th. Needham & Company LLC lifted their target price on Taysha Gene Therapies from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, Chardan Capital reissued a “buy” rating and set a $12.00 price target on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.09.

Taysha Gene Therapies Trading Up 10.0%

The firm’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $4.58. The company has a market capitalization of $1.31 billion, a PE ratio of -13.37 and a beta of 1.02. The company has a quick ratio of 12.23, a current ratio of 12.23 and a debt-to-equity ratio of 0.20.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its earnings results on Thursday, March 19th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $5.49 million for the quarter, compared to the consensus estimate of $1.89 million. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 56.64%. As a group, equities research analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling at Taysha Gene Therapies

In other Taysha Gene Therapies news, CFO Kamran Alam sold 78,968 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $4.75, for a total transaction of $375,098.00. Following the transaction, the chief financial officer owned 1,467,635 shares in the company, valued at $6,971,266.25. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sean P. Nolan sold 136,789 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $4.75, for a total value of $649,747.75. Following the completion of the sale, the chief executive officer directly owned 2,949,569 shares of the company’s stock, valued at $14,010,452.75. The trade was a 4.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 598,623 shares of company stock valued at $2,822,188 over the last three months. 3.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vestal Point Capital LP boosted its holdings in Taysha Gene Therapies by 150.0% in the 4th quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock worth $75,625,000 after acquiring an additional 8,250,000 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Taysha Gene Therapies during the second quarter valued at approximately $11,178,000. Barclays PLC lifted its position in shares of Taysha Gene Therapies by 1,042.8% during the third quarter. Barclays PLC now owns 5,148,112 shares of the company’s stock worth $16,834,000 after purchasing an additional 4,697,611 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Taysha Gene Therapies during the fourth quarter worth $20,471,000. Finally, State Street Corp boosted its stake in shares of Taysha Gene Therapies by 49.1% in the fourth quarter. State Street Corp now owns 10,790,084 shares of the company’s stock valued at $59,345,000 after purchasing an additional 3,553,619 shares during the period. 77.70% of the stock is owned by institutional investors and hedge funds.

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.