Taysha Gene Therapies (NASDAQ:TSHA) Shares Up 8.5% on Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price was up 8.5% on Wednesday after Truist Financial upgraded the stock to a strong-buy rating. The stock traded as high as $4.53 and last traded at $4.4810. Approximately 1,028,076 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,727,517 shares. The stock had previously closed at $4.13.

Several other analysts have also weighed in on TSHA. Chardan Capital restated a “buy” rating and set a $12.00 price target on shares of Taysha Gene Therapies in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Monday, December 29th. Wall Street Zen raised shares of Taysha Gene Therapies from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Raymond James Financial reissued a “strong-buy” rating and issued a $13.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, January 6th. Finally, UBS Group set a $11.00 target price on Taysha Gene Therapies in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $11.09.

Insiders Place Their Bets

In other Taysha Gene Therapies news, CFO Kamran Alam sold 78,968 shares of Taysha Gene Therapies stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $4.75, for a total transaction of $375,098.00. Following the completion of the sale, the chief financial officer directly owned 1,467,635 shares of the company’s stock, valued at $6,971,266.25. The trade was a 5.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sukumar Nagendran sold 200,000 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the sale, the insider owned 1,006,439 shares of the company’s stock, valued at $4,740,327.69. This represents a 16.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 598,623 shares of company stock worth $2,822,188 in the last ninety days. 3.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Intech Investment Management LLC raised its stake in Taysha Gene Therapies by 3.6% in the fourth 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 in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Taysha Gene Therapies by 1.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 166,541 shares of the company’s stock valued at $916,000 after acquiring an additional 2,504 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Taysha Gene Therapies by 26.2% in the 4th 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 period. Virtus Investment Advisers LLC raised its position in shares of Taysha Gene Therapies by 7.0% in the 4th quarter. Virtus Investment Advisers LLC now owns 45,946 shares of the company’s stock worth $253,000 after acquiring an additional 3,008 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of Taysha Gene Therapies by 29.1% during the 3rd quarter. Xponance Inc. now owns 16,575 shares of the company’s stock worth $54,000 after purchasing an additional 3,738 shares during the last quarter. 77.70% of the stock is currently owned by institutional investors.

Taysha Gene Therapies Price Performance

The firm has a market capitalization of $1.23 billion, a P/E ratio of -12.59 and a beta of 1.02. The stock’s fifty day simple moving average is $4.59 and its 200 day simple moving average is $4.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 12.23 and a quick ratio of 12.23.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $5.49 million for the quarter, compared to analysts’ expectations of $1.89 million. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 56.64%. On average, equities research analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS 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.