Brokerages Set Taysha Gene Therapies, Inc. (NASDAQ:TSHA) Price Target at $8.17

Key Points

• Taysha Gene Therapies, Inc. has received an average target price of $8.17 from seven brokerages, which recommend the stock as a "Buy."
• The company's shares recently traded down by 3.2% to $2.72, with a 52-week range of $1.05 to $3.31.
• Significant insider activity includes major shareholder Paul B. Manning purchasing 750,000 shares at an average cost of $2.75 per share, increasing his stake by over 35%.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) has earned a consensus recommendation of "Buy" from the seven brokerages that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $8.1667.

A number of analysts have commented on the stock. JMP Securities upped 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 report on Thursday, May 29th. Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. Canaccord Genuity Group upped their target price on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, July 1st. Finally, 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 report on Thursday, May 29th.

Insider Activity

In other news, major shareholder Paul B. Manning acquired 750,000 shares of Taysha Gene Therapies stock in a transaction dated Friday, May 30th. The stock was purchased at an average cost of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the purchase, the insider directly owned 2,841,704 shares in the company, valued at approximately $7,814,686. This trade represents a 35.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.78% of the stock is currently owned by company insiders.

Institutional Trading of Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of TSHA. Ground Swell Capital LLC purchased a new stake in shares of Taysha Gene Therapies in the fourth quarter worth $25,000. Hsbc Holdings PLC boosted its position in shares of Taysha Gene Therapies by 65.6% during the fourth quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock worth $36,000 after acquiring an additional 8,076 shares during the last quarter. May Hill Capital LLC bought a new position in shares of Taysha Gene Therapies during the second quarter worth $37,000. Ameriprise Financial Inc. bought a new position in shares of Taysha Gene Therapies during the fourth quarter worth $40,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Taysha Gene Therapies during the fourth quarter worth $41,000. 77.70% of the stock is owned by hedge funds and other institutional investors.

Taysha Gene Therapies Stock Performance

Shares of TSHA traded up $0.15 during mid-day trading on Friday, hitting $2.91. 2,350,722 shares of the company traded hands, compared to its average volume of 2,861,643. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.35 and a current ratio of 5.35. The stock has a 50-day moving average price of $2.59 and a two-hundred day moving average price of $2.08. Taysha Gene Therapies has a 1 year low of $1.05 and a 1 year high of $3.31. The stock has a market cap of $623.59 million, a price-to-earnings ratio of -8.54 and a beta of 0.98.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). Taysha Gene Therapies had a negative net margin of 1,201.08% and a negative return on equity of 104.93%. The firm had revenue of $2.30 million during the quarter, compared to analysts' expectations of $1.48 million. During the same period in the previous year, the company earned ($0.10) earnings per share. Equities analysts anticipate that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

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.