Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 8% – Still a Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price traded up 8% on Monday . The company traded as high as $5.98 and last traded at $5.96. Approximately 121,029 shares changed hands during trading, a decline of 96% from the average daily volume of 2,879,094 shares. The stock had previously closed at $5.52.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TSHA shares. Citizens Jmp restated a “market outperform” rating and issued a $11.00 price target on shares of Taysha Gene Therapies in a research report on Thursday, July 2nd. Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. BMO Capital Markets raised their target price on shares of Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Finally, Robert W. Baird lifted their target price on Taysha Gene Therapies from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.77.

Taysha Gene Therapies Stock Up 3.5%

The company has a quick ratio of 14.04, a current ratio of 14.04 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $5.97 and its 200 day moving average price is $5.37. The firm has a market cap of $1.64 billion, a P/E ratio of -15.01 and a beta of 1.17.

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, research analysts expect that Taysha Gene Therapies, Inc. will post -0.49 earnings per share for the current year.

Insider Activity at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the sale, the insider owned 936,410 shares of the company’s stock, valued at approximately $5,843,198.40. The trade was a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.48% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Several large investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its position in Taysha Gene Therapies by 32.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 519,120 shares of the company’s stock worth $3,535,000 after acquiring an additional 127,644 shares during the period. Militia Capital Management LLC acquired a new position in shares of Taysha Gene Therapies during the first quarter valued at $208,000. Seven Fleet Capital Management LP raised its stake in shares of Taysha Gene Therapies by 274.2% during the first quarter. Seven Fleet Capital Management LP now owns 625,708 shares of the company’s stock valued at $2,797,000 after purchasing an additional 458,485 shares in the last quarter. Bank of America Corp DE grew its position in Taysha Gene Therapies by 45.5% in the 1st quarter. Bank of America Corp DE now owns 1,677,046 shares of the company’s stock valued at $7,496,000 after buying an additional 524,366 shares in the last quarter. Finally, ADAR1 Capital Management LLC grew its position in Taysha Gene Therapies by 19.4% in the 1st quarter. ADAR1 Capital Management LLC now owns 2,979,429 shares of the company’s stock valued at $13,318,000 after buying an additional 483,620 shares in the last quarter. 77.70% of the stock is currently 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 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.