Needham & Company LLC Issues Positive Forecast for Taysha Gene Therapies (NASDAQ:TSHA) Stock Price

Key Points

• Needham & Company LLC has raised its price target for Taysha Gene Therapies from $8.00 to $10.00, indicating a potential upside of 124.97% from the last closing price.
• The stock has received a consensus rating of "Buy" from eight analysts, with an average price target of $8.57.
• Taysha Gene Therapies reported a loss of ($0.09) EPS for the last quarter, missing analysts' expectations, but generating revenue of $1.99 million, exceeding estimates.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) had its price target upped by Needham & Company LLC from $8.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 124.97% from the company's previous close.

TSHA has been the subject of a number of other reports. Wells Fargo & Company upped their price target on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Chardan Capital upped their price target on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, Bank of America began coverage on shares of Taysha Gene Therapies in a research note on Friday, July 11th. They issued a "buy" rating and a $8.00 price target for the company. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Taysha Gene Therapies has a consensus rating of "Buy" and an average price target of $8.57.

Taysha Gene Therapies Stock Performance

Taysha Gene Therapies stock traded up $1.27 during midday trading on Thursday, reaching $4.45. 76,164,560 shares of the stock traded hands, compared to its average volume of 3,423,694. The company has a current ratio of 12.48, a quick ratio of 12.48 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average price of $2.94 and a two-hundred day moving average price of $2.43. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -13.14 and a beta of 0.99. Taysha Gene Therapies has a fifty-two week low of $1.05 and a fifty-two week high of $4.83.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). The firm had revenue of $1.99 million for the quarter, compared to analyst estimates of $1.61 million. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. On average, equities research analysts forecast that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Insider Activity

In other news, insider Sukumar Nagendran sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total transaction of $646,000.00. Following the sale, the insider owned 1,006,439 shares in the company, valued at $3,250,797.97. The trade was a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of large investors have recently made changes to their positions in the company. Octagon Capital Advisors LP raised its holdings in shares of Taysha Gene Therapies by 17.7% during the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company's stock valued at $29,089,000 after acquiring an additional 1,892,500 shares during the period. Jefferies Financial Group Inc. grew its position in Taysha Gene Therapies by 4,105.3% during the second quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company's stock valued at $23,825,000 after purchasing an additional 10,068,479 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Taysha Gene Therapies during the second quarter valued at approximately $11,178,000. Tybourne Capital Management HK Ltd. grew its position in Taysha Gene Therapies by 10.7% during the second quarter. Tybourne Capital Management HK Ltd. now owns 4,095,000 shares of the company's stock valued at $9,459,000 after purchasing an additional 395,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Taysha Gene Therapies by 3.5% during the second quarter. Geode Capital Management LLC now owns 3,793,572 shares of the company's stock valued at $8,765,000 after purchasing an additional 128,840 shares in the last quarter. Institutional investors and hedge funds own 77.70% of the company's stock.

Taysha Gene Therapies Company Profile

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.

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