Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Up Following Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price gapped up prior to trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $7.50 to $8.00. The stock had previously closed at $2.91, but opened at $3.06. Wells Fargo & Company currently has an overweight rating on the stock. Taysha Gene Therapies shares last traded at $3.07, with a volume of 1,157,565 shares traded.

A number of other analysts have also weighed in on the stock. Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Bank of America initiated coverage on shares of Taysha Gene Therapies in a research note on Friday, July 11th. They set a “buy” rating and a $8.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Finally, Canaccord Genuity Group increased their target price on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Taysha Gene Therapies currently has an average rating of “Buy” and an average price target of $8.29.

Insider Transactions at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning purchased 750,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was bought at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the completion of the acquisition, the insider directly owned 2,841,704 shares of the company’s stock, valued at approximately $7,814,686. The trade was a 35.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.78% of the stock is owned by company insiders.

Institutional Trading of Taysha Gene Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Avoro Capital Advisors LLC grew its position in Taysha Gene Therapies by 7.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 19,999,999 shares of the company’s stock worth $34,600,000 after purchasing an additional 1,349,999 shares during the last quarter. Octagon Capital Advisors LP grew its position in Taysha Gene Therapies by 2.4% in the 1st quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company’s stock worth $14,873,000 after purchasing an additional 250,000 shares during the last quarter. Jefferies Financial Group Inc. grew its position in Taysha Gene Therapies by 4,105.3% in the 2nd quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock worth $23,825,000 after purchasing an additional 10,068,479 shares during the last quarter. Vanguard Group Inc. grew its position in Taysha Gene Therapies by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 8,906,764 shares of the company’s stock worth $15,409,000 after purchasing an additional 641,305 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Taysha Gene Therapies in the 4th quarter worth $8,650,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Stock Down 3.0%

The firm’s 50-day simple moving average is $2.60 and its 200-day simple moving average is $2.11. The company has a market capitalization of $631.10 million, a price-to-earnings ratio of -8.65 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.35 and a current ratio of 12.48.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $1.99 million for the quarter, compared to the consensus estimate of $1.61 million. Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%. Sell-side analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

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.