Taysha Gene Therapies (NASDAQ:TSHA) Earns "Buy" Rating from Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $8.00 price target on the stock. Needham & Company LLC's target price would indicate a potential upside of 206.51% from the stock's previous close.

Several other research analysts have also issued reports on TSHA. JMP Securities raised their target price on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a research note on Thursday, May 29th. Chardan Capital upped their target price on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Canaccord Genuity Group lifted their price target on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $7.57.

Taysha Gene Therapies Trading Down 6.8%

TSHA stock traded down $0.19 during trading on Tuesday, hitting $2.61. The company had a trading volume of 2,577,077 shares, compared to its average volume of 3,039,057. The firm has a 50-day moving average price of $2.07 and a 200-day moving average price of $1.93. Taysha Gene Therapies has a 12 month low of $1.05 and a 12 month high of $4.32. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 0.48. The stock has a market cap of $560.27 million, a price-to-earnings ratio of 4.14 and a beta of 1.04.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). The company had revenue of $2.30 million during the quarter, compared to the consensus estimate of $1.48 million. Taysha Gene Therapies had a negative return on equity of 106.36% and a negative net margin of 229.67%. During the same quarter in the previous year, the company posted ($0.10) earnings per share. As a group, analysts predict that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Insider Activity at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning bought 750,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the transaction, the insider now owns 2,841,704 shares in the company, valued at $7,814,686. This represents a 35.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in Taysha Gene Therapies by 7.0% during the first quarter. Rhumbline Advisers now owns 205,462 shares of the company's stock worth $286,000 after purchasing an additional 13,383 shares during the last quarter. Octagon Capital Advisors LP boosted its stake in shares of Taysha Gene Therapies by 2.4% during the 1st quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company's stock worth $14,873,000 after buying an additional 250,000 shares during the last quarter. Granahan Investment Management LLC grew its holdings in shares of Taysha Gene Therapies by 0.3% in the 1st quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock valued at $2,281,000 after acquiring an additional 4,412 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Taysha Gene Therapies by 325.6% in the first quarter. AQR Capital Management LLC now owns 107,899 shares of the company's stock valued at $150,000 after acquiring an additional 82,545 shares during the last quarter. Finally, ADAR1 Capital Management LLC raised its holdings in Taysha Gene Therapies by 500.0% during the first quarter. ADAR1 Capital Management LLC now owns 1,066,309 shares of the company's stock worth $1,482,000 after acquiring an additional 888,602 shares in the last quarter. 77.70% of the stock is owned by institutional investors.

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.