Taysha Gene Therapies (NASDAQ:TSHA) Trading 7.7% Higher After Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price traded up 7.7% during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from $10.00 to $14.00. BMO Capital Markets currently has an outperform rating on the stock. Taysha Gene Therapies traded as high as $7.06 and last traded at $7.0350. 926,466 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 2,685,626 shares. The stock had previously closed at $6.53.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Taysha Gene Therapies in a research note on Monday. Bank of America boosted their price objective on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday. Chardan Capital restated a “buy” rating and set a $12.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a report on Friday, March 27th. Finally, Canaccord Genuity Group lifted their price target on shares of Taysha Gene Therapies from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $12.38.

Insider Activity

In related news, insider Sukumar Nagendran sold 200,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $4.46, for a total value of $892,000.00. Following the sale, the insider directly owned 1,136,410 shares in the company, valued at $5,068,388.60. The trade was a 14.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.78% of the stock is owned by company insiders.

Institutional Trading of Taysha Gene Therapies

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Taysha Gene Therapies by 325.6% during the 1st quarter. AQR Capital Management LLC now owns 107,899 shares of the company’s stock worth $150,000 after purchasing an additional 82,545 shares during the last quarter. Rhumbline Advisers increased its position in Taysha Gene Therapies by 13.5% during the second quarter. Rhumbline Advisers now owns 233,256 shares of the company’s stock worth $539,000 after buying an additional 27,794 shares in the last quarter. Prudential Financial Inc. raised its position 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 valued at $53,000 after buying an additional 7,650 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Taysha Gene Therapies by 27.4% during the second quarter. Invesco Ltd. now owns 203,671 shares of the company’s stock valued at $470,000 after buying an additional 43,772 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Taysha Gene Therapies during the second quarter worth approximately $184,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.

Taysha Gene Therapies Price Performance

The stock has a market capitalization of $2.02 billion, a PE ratio of -18.54 and a beta of 1.19. The company has a current ratio of 14.04, a quick ratio of 14.04 and a debt-to-equity ratio of 0.23. The company’s 50 day simple moving average is $5.98 and its 200 day simple moving average is $5.25.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). On average, equities analysts anticipate that Taysha Gene Therapies, Inc. will post -0.5 earnings per share for the current year.

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.