Taysha Gene Therapies’ (TSHA) Buy Rating Reiterated at Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $12.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 76.34% from the stock’s previous close.

Several other equities research analysts have also commented on TSHA. BMO Capital Markets boosted their price objective on Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Citizens Jmp raised their target price on Taysha Gene Therapies from $8.00 to $11.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Wednesday, June 24th. Bank of America boosted their price target on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen downgraded Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $12.62.

Taysha Gene Therapies Price Performance

Shares of NASDAQ TSHA traded up $0.07 during trading on Tuesday, hitting $6.80. The company had a trading volume of 5,131,935 shares, compared to its average volume of 2,869,540. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -17.93 and a beta of 1.19. The stock has a fifty day simple moving average of $6.13 and a two-hundred day simple moving average of $5.30. The company has a quick ratio of 14.04, a current ratio of 14.04 and a debt-to-equity ratio of 0.23. Taysha Gene Therapies has a fifty-two week low of $2.25 and a fifty-two week high of $7.30.

Taysha Gene Therapies (NASDAQ:TSHA) last released 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, research analysts expect that Taysha Gene Therapies will post -0.5 earnings per share for the current year.

Insider Activity at Taysha Gene Therapies

In related 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 transaction, the insider owned 1,136,410 shares in the company, valued at approximately $5,068,388.60. This trade represents a 14.97% decrease in their ownership of the stock. The sale was disclosed in a 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 Trading of Taysha Gene Therapies

Several large investors have recently added to or reduced their stakes in TSHA. Intech Investment Management LLC increased its holdings in shares of Taysha Gene Therapies by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 71,069 shares of the company’s stock worth $391,000 after buying an additional 2,443 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Taysha Gene Therapies by 1.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 166,541 shares of the company’s stock valued at $916,000 after buying an additional 2,504 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Taysha Gene Therapies by 26.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,311 shares of the company’s stock valued at $73,000 after acquiring an additional 2,765 shares during the last quarter. Virtus Investment Advisers LLC lifted its holdings in Taysha Gene Therapies by 7.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 45,946 shares of the company’s stock valued at $253,000 after acquiring an additional 3,008 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Taysha Gene Therapies by 26.2% in the first quarter. Principal Financial Group Inc. now owns 16,185 shares of the company’s stock worth $72,000 after acquiring an additional 3,362 shares during the period. 77.70% of the stock is currently owned by hedge funds and other 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.