Taysha Gene Therapies (NASDAQ:TSHA) Price Target Cut to $6.00 by Analysts at Canaccord Genuity Group

Taysha Gene Therapies (NASDAQ:TSHA) had its target price dropped by equities researchers at Canaccord Genuity Group from $7.00 to $6.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 163.16% from the company’s current price.

Several other equities analysts have also issued reports on the company. JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of Taysha Gene Therapies in a research report on Thursday, June 20th. Chardan Capital restated a “buy” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a report on Tuesday. Piper Sandler decreased their target price on shares of Taysha Gene Therapies from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. BMO Capital Markets started coverage on shares of Taysha Gene Therapies in a research report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $8.00 price target (up previously from $2.00) on shares of Taysha Gene Therapies in a report on Tuesday, May 14th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.40.

Taysha Gene Therapies Trading Up 11.8 %

Shares of TSHA opened at $2.28 on Wednesday. Taysha Gene Therapies has a fifty-two week low of $1.27 and a fifty-two week high of $4.32. The firm has a market cap of $426.41 million, a price-to-earnings ratio of -4.65 and a beta of 0.41. The firm has a 50 day moving average price of $2.59 and a 200-day moving average price of $2.56. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.38 and a current ratio of 3.38.

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

Insider Buying and Selling at Taysha Gene Therapies

In related news, major shareholder Paul B. Manning acquired 1,333,333 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $2.25 per share, for a total transaction of $2,999,999.25. Following the acquisition, the insider now owns 1,333,333 shares of the company’s stock, valued at $2,999,999.25. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Large investors have recently bought and sold shares of the company. Avoro Capital Advisors LLC boosted its holdings in shares of Taysha Gene Therapies by 328.2% during the 1st quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company’s stock valued at $53,526,000 after buying an additional 14,294,445 shares in the last quarter. StemPoint Capital LP bought a new stake in shares of Taysha Gene Therapies during the first quarter valued at approximately $3,122,000. Bank of New York Mellon Corp bought a new position in Taysha Gene Therapies in the 2nd quarter valued at approximately $1,018,000. Monaco Asset Management SAM bought a new position in shares of Taysha Gene Therapies during the fourth quarter valued at $522,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Taysha Gene Therapies by 1,011.1% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 277,778 shares of the company’s stock worth $492,000 after purchasing an additional 252,778 shares during the period. 77.70% of the stock is owned by institutional investors.

About Taysha Gene Therapies

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.