Taysha Gene Therapies, Inc. (NASDAQ:TSHA) Stock Has Average Target Price of $12.77 According to Brokerages

Key Points

• Analysts maintain a bullish view: Fifteen brokerages collectively rate Taysha Gene Therapies “Buy,” with an average 12-month price target of $12.77. Recent targets range from $11 to $14.
• The stock remains under pressure: Shares opened at $4.39, down 2.2%, and trade below their 50-day and 200-day moving averages. The company also reported a quarterly loss of $0.13 per share, missing estimates by $0.02.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 77.70% of the shares, with Wellington Management and several other firms significantly increasing their positions.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) has been given a consensus recommendation of "Buy" by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.77.

Several equities analysts have weighed in on the company. Citizens Jmp reissued a "market outperform" rating and set a $11.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, July 2nd. BMO Capital Markets upped their price target on Taysha Gene Therapies from $10.00 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. Wolfe Research initiated coverage on Taysha Gene Therapies in a research note on Thursday, September 17th. They set an "outperform" rating for the company. The Goldman Sachs Group increased their price target on Taysha Gene Therapies from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, Pivotal Research set a $14.00 price objective on Taysha Gene Therapies in a report on Tuesday, June 23rd.

Taysha Gene Therapies Stock Down 2.2%

Taysha Gene Therapies stock opened at $4.39 on Wednesday. Taysha Gene Therapies has a twelve month low of $3.69 and a twelve month high of $7.30. The firm has a 50 day moving average price of $5.58 and a 200-day moving average price of $5.69. The company has a market capitalization of $1.43 billion, a P/E ratio of -10.45 and a beta of 1.19. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). As a group, equities analysts predict that Taysha Gene Therapies will post -0.52 EPS for the current year.

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the 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 completion of the transaction, the insider owned 936,410 shares in the company, valued at $5,843,198.40. This trade represents a 17.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is owned by corporate insiders.

Institutional Trading of Taysha Gene Therapies

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in Taysha Gene Therapies in the 2nd quarter valued at approximately $4,753,000. Renaissance Technologies LLC lifted its position in shares of Taysha Gene Therapies by 141.5% during the first quarter. Renaissance Technologies LLC now owns 413,203 shares of the company's stock worth $1,847,000 after acquiring an additional 242,103 shares in the last quarter. Seven Fleet Capital Management LP lifted its position 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 worth $2,797,000 after acquiring an additional 458,485 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Taysha Gene Therapies by 53.0% in the first quarter. Rice Hall James & Associates LLC now owns 1,944,671 shares of the company's stock worth $8,693,000 after acquiring an additional 674,026 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Taysha Gene Therapies by 534.7% in the second quarter. Wellington Management Group LLP now owns 3,975,605 shares of the company's stock worth $27,074,000 after acquiring an additional 3,349,244 shares during the period. 77.70% of the stock is currently owned by hedge funds and other 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 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.

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