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

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $12.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 83.77% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Friday, March 27th. Canaccord Genuity Group increased their price objective on shares of Taysha Gene Therapies from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, April 6th. Chardan Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, March 19th. Truist Financial raised shares of Taysha Gene Therapies to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Wall Street Zen cut shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Taysha Gene Therapies has a consensus rating of “Buy” and a consensus target price of $11.64.

Taysha Gene Therapies Price Performance

Taysha Gene Therapies stock traded up $0.11 during mid-day trading on Monday, hitting $6.53. 3,001,069 shares of the company were exchanged, compared to its average volume of 2,701,261. The company has a market capitalization of $1.88 billion, a PE ratio of -17.18 and a beta of 1.19. The business has a fifty day moving average of $5.94 and a 200 day moving average of $5.23. Taysha Gene Therapies has a 1-year low of $2.25 and a 1-year high of $7.30. 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 (NASDAQ:TSHA) last issued its quarterly earnings data 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). As a group, sell-side analysts expect that Taysha Gene Therapies will post -0.5 earnings per share for the current year.

Insider Activity

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $4.46, for a total value of $892,000.00. Following the transaction, the insider owned 1,136,410 shares of the company’s stock, valued at approximately $5,068,388.60. The trade was a 14.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Several hedge funds have recently made changes to their positions in TSHA. Marex Group plc bought a new stake in shares of Taysha Gene Therapies in the 2nd quarter valued at about $29,000. E Fund Management Co. Ltd. bought a new position in Taysha Gene Therapies during the second quarter worth about $31,000. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Taysha Gene Therapies during the third quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its position in Taysha Gene Therapies by 156.5% during the second quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company’s stock worth $41,000 after buying an additional 10,742 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in Taysha Gene Therapies by 143.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock valued at $43,000 after buying an additional 4,607 shares during the period. 77.70% of the stock is owned by institutional investors.

Taysha Gene Therapies Company Profile

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.