Taysha Gene Therapies (NASDAQ:TSHA) Earns Outperform Rating from Analysts at Wolfe Research

Key Points

• Wolfe Research initiated coverage of Taysha Gene Therapies with an “outperform” rating. The broader analyst consensus is “Buy,” with an average price target of $12.77.
• Taysha shares opened at $5.07, while the stock’s 52-week range is $2.71 to $7.30. The company reported a quarterly loss of $0.13 per share, missing the $0.11-per-share consensus estimate.
• Institutional ownership is substantial at 77.70%. Wellington Management, Seven Fleet Capital and Squarepoint Ops were among investors that increased their holdings, while insider Sukumar Nagendran sold 200,000 shares under a pre-arranged trading plan.

Equities research analysts at Wolfe Research initiated coverage on shares of Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set an "outperform" rating on the stock.

Other analysts also recently issued research reports about the stock. Citigroup reissued an "outperform" rating on shares of Taysha Gene Therapies in a report on Tuesday, June 23rd. Needham & Company LLC restated a "buy" rating and issued a $12.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, June 30th. Citizens Jmp reaffirmed a "market outperform" rating and set a $11.00 price target on shares of Taysha Gene Therapies in a research note on Thursday, July 2nd. The Goldman Sachs Group increased their price objective on shares of Taysha Gene Therapies from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, BMO Capital Markets raised their target price on shares of Taysha Gene Therapies from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $12.77.

Taysha Gene Therapies Stock Up 0.2%

Taysha Gene Therapies stock opened at $5.07 on Thursday. The stock's 50 day moving average price is $5.85 and its 200 day moving average price is $5.66. Taysha Gene Therapies has a 1-year low of $2.71 and a 1-year high of $7.30. The company has a market cap of $1.65 billion, a PE ratio of -12.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 17.76 and a quick ratio of 17.76.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). On average, sell-side analysts predict that Taysha Gene Therapies will post -0.52 EPS for the current fiscal year.

Insider Transactions at Taysha Gene Therapies

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the firm's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the sale, the insider directly owned 936,410 shares of the company's stock, valued at $5,843,198.40. This trade represents a 17.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.48% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP purchased a new position in Taysha Gene Therapies during the second quarter worth about $709,000. Squarepoint Ops LLC grew its holdings in Taysha Gene Therapies by 38.8% in the 2nd quarter. Squarepoint Ops LLC now owns 569,269 shares of the company's stock valued at $3,877,000 after buying an additional 158,987 shares during the period. Arizona State Retirement System grew its holdings in Taysha Gene Therapies by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 39,633 shares of the company's stock valued at $270,000 after buying an additional 2,014 shares during the period. Seven Fleet Capital Management LP increased its stake in shares of Taysha Gene Therapies by 140.4% during the 2nd quarter. Seven Fleet Capital Management LP now owns 1,504,400 shares of the company's stock valued at $9,940,000 after acquiring an additional 878,692 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Taysha Gene Therapies by 534.7% during the 2nd quarter. Wellington Management Group LLP now owns 3,975,605 shares of the company's stock valued at $27,074,000 after acquiring an additional 3,349,244 shares during the last quarter. Hedge funds and other institutional investors own 77.70% of the company's stock.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc is a clinical-stage biotechnology company developing gene therapies for severe monogenic diseases of the central nervous system. The company focuses on disorders in which a missing or defective gene contributes to neurological disease and uses adeno-associated virus (AAV) vectors to deliver functional genetic material to targeted cells.

Taysha's development programs have included TSHA-102, an investigational gene therapy for Rett syndrome, and earlier programs such as TSHA-120 for giant axonal neuropathy and TSHA-101 for GM1 gangliosidosis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.