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

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reissued by Chardan Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $12.00 price target on the stock. Chardan Capital’s price target indicates a potential upside of 163.45% from the stock’s current price.

A number of other equities research analysts have also issued reports on TSHA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Monday, December 29th. UBS Group set a $11.00 price objective on Taysha Gene Therapies in a research report on Thursday, December 4th. Wells Fargo & Company upped their target price 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. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, March 3rd. Finally, The Goldman Sachs Group set a $11.00 price objective on shares of Taysha Gene Therapies in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Taysha Gene Therapies presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.91.

Taysha Gene Therapies Stock Up 2.4%

Shares of Taysha Gene Therapies stock traded up $0.11 during trading hours on Thursday, reaching $4.56. 3,706,851 shares of the company were exchanged, compared to its average volume of 2,599,940. Taysha Gene Therapies has a 1 year low of $1.05 and a 1 year high of $6.02. The firm has a market cap of $1.25 billion, a PE ratio of -13.80 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.48 and a current ratio of 10.48. The stock’s fifty day moving average is $4.66 and its 200 day moving average is $4.53.

Insider Transactions at Taysha Gene Therapies

In related news, insider Sukumar Nagendran sold 26,918 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $124,091.98. Following the completion of the transaction, the insider directly owned 1,317,389 shares of the company’s stock, valued at $6,073,163.29. This represents a 2.00% 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 41,312 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $4.61, for a total transaction of $190,448.32. Following the completion of the transaction, the chief executive officer owned 2,908,257 shares in the company, valued at $13,407,064.77. This represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 598,623 shares of company stock valued at $2,822,188. Corporate insiders own 3.78% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Several institutional investors have recently modified their holdings of TSHA. Vestal Point Capital LP boosted its holdings in shares of 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 valued at $75,625,000 after buying an additional 8,250,000 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Taysha Gene Therapies by 2.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 13,692,739 shares of the company’s stock worth $75,310,000 after acquiring an additional 309,031 shares in the last quarter. Vanguard Group Inc. lifted its position in Taysha Gene Therapies by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 13,267,805 shares of the company’s stock valued at $72,973,000 after acquiring an additional 418,192 shares during the last quarter. Octagon Capital Advisors LP boosted its stake in Taysha Gene Therapies by 17.7% in the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock valued at $29,089,000 after acquiring an additional 1,892,500 shares in the last quarter. Finally, State Street Corp boosted its stake in 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 acquiring an additional 3,553,619 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

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.