Chardan Capital Reaffirms “Buy” Rating for Taysha Gene Therapies (NASDAQ:TSHA)

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reiterated by Chardan Capital in a research note issued on Tuesday, Benzinga reports. They currently have a $7.00 price objective on the stock. Chardan Capital’s target price indicates a potential upside of 207.02% from the company’s current price.

Several other research analysts have also issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, June 20th. Jefferies Financial Group restated a “buy” rating and issued a $8.00 target price (up from $2.00) on shares of Taysha Gene Therapies in a research note on Tuesday, May 14th. Needham & Company LLC dropped their price target on Taysha Gene Therapies from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler cut their price target on Taysha Gene Therapies from $9.00 to $7.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Finally, BMO Capital Markets started coverage on Taysha Gene Therapies in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective for the company. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $6.50.

Taysha Gene Therapies Trading Up 11.8 %

Taysha Gene Therapies stock traded up $0.24 during trading hours on Tuesday, reaching $2.28. 1,762,227 shares of the company’s stock were exchanged, compared to its average volume of 2,522,804. The firm’s 50 day simple moving average is $2.62 and its 200 day simple moving average is $2.55. Taysha Gene Therapies has a twelve month low of $1.27 and a twelve month high of $4.32. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $426.41 million, a PE ratio of -4.65 and a beta of 0.41.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its earnings results on Monday, August 12th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $1.11 million during the quarter, compared to the consensus estimate of $3.62 million. Taysha Gene Therapies had a negative return on equity of 782.81% and a negative net margin of 833.60%. During the same period in the previous year, the company posted ($0.38) earnings per share. Research analysts predict that Taysha Gene Therapies will post -0.41 earnings per share for the current year.

Insider Activity

In other news, major shareholder Paul B. Manning bought 1,333,333 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were purchased at an average price of $2.25 per share, with a total value of $2,999,999.25. Following the transaction, the insider now directly owns 1,333,333 shares in the company, valued at $2,999,999.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC boosted its stake in Taysha Gene Therapies by 328.2% in the first quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company’s stock valued at $53,526,000 after acquiring an additional 14,294,445 shares during the last quarter. Artal Group S.A. lifted its stake in Taysha Gene Therapies by 0.7% in the first quarter. Artal Group S.A. now owns 3,687,548 shares of the company’s stock valued at $10,583,000 after purchasing an additional 24,444 shares during the last quarter. StemPoint Capital LP bought a new position in Taysha Gene Therapies during the first quarter valued at $3,122,000. Quantum Private Wealth LLC increased its position in Taysha Gene Therapies by 4.6% in the second quarter. Quantum Private Wealth LLC now owns 730,520 shares of the company’s stock worth $1,636,000 after buying an additional 32,000 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Taysha Gene Therapies in the second quarter valued at $1,018,000. 77.70% of the stock is owned by hedge funds and other institutional investors.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.