Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Up 6.4% – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares rose 6.4% on Thursday. The stock traded as high as $3.70 and last traded at $3.7350. Approximately 291,380 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 3,035,140 shares. The stock had previously closed at $3.51.

Analyst Ratings Changes

Several research firms have issued reports on TSHA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a report on Monday, September 21st. Robert W. Baird increased their price objective on Taysha Gene Therapies from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. BMO Capital Markets raised their price objective on Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Bank of America boosted their target price on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Wolfe Research assumed coverage on Taysha Gene Therapies in a research note on Thursday, September 17th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $12.77.

Taysha Gene Therapies Stock Up 7.5%

The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -8.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.76 and a current ratio of 17.76. The business’s 50 day moving average is $5.35 and its 200 day moving average is $5.68.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sell-side analysts anticipate that Taysha Gene Therapies, Inc. will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Taysha Gene Therapies

Several hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Taysha Gene Therapies in the 1st quarter worth $50,000. Y Intercept Hong Kong Ltd purchased a new stake in Taysha Gene Therapies during the 1st quarter valued at about $51,000. Principal Financial Group Inc. grew its stake in Taysha Gene Therapies by 26.2% during the 1st quarter. Principal Financial Group Inc. now owns 16,185 shares of the company’s stock valued at $72,000 after purchasing an additional 3,362 shares during the last quarter. Cetera Investment Advisers grew its stake in Taysha Gene Therapies by 34.5% during the 1st quarter. Cetera Investment Advisers now owns 28,450 shares of the company’s stock valued at $127,000 after purchasing an additional 7,296 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Taysha Gene Therapies by 698.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 25,577 shares of the company’s stock valued at $141,000 after purchasing an additional 22,373 shares during the period. 77.70% of the stock is owned by institutional investors and hedge funds.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for severe monogenic diseases of the central nervous system. The company uses adeno-associated virus-based delivery technologies and other genetic medicine approaches to target conditions with limited or no approved treatment options.

Taysha’s research and development programs have included TSHA-102, an investigational gene therapy being developed for Rett syndrome, as well as programs for other rare neurological disorders.