Taysha Gene Therapies, Inc. (NASDAQ:TSHA) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Taysha Gene Therapies, Inc. (NASDAQ:TSHA) has received a consensus "Buy" rating from eight brokerages, with an average price target of $8.2857 for the stock.
• Recent insider trading includes Sukumar Nagendran selling 200,000 shares for $646,000, reducing their ownership stake by 16.58%.
• Large institutional investors have significantly increased their holdings in Taysha Gene Therapies, with Jefferies Financial Group expanding their stake by 4,105.3% in the second quarter.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) has been assigned an average rating of "Buy" from the eight ratings firms that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.2857.

A number of equities analysts have commented on TSHA shares. Canaccord Genuity Group upped their target price on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and issued a $8.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Bank of America initiated coverage on Taysha Gene Therapies in a research report on Friday, July 11th. They set a "buy" rating and a $8.00 target price for the company. Chardan Capital upped their target price on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company raised their price target on Taysha Gene Therapies from $7.50 to $8.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th.

Insiders Place Their Bets

In related news, insider Sukumar Nagendran sold 200,000 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total transaction of $646,000.00. Following the transaction, the insider directly owned 1,006,439 shares of the company's stock, valued at $3,250,797.97. This represents a 16.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of large investors have recently bought and sold shares of TSHA. Jefferies Financial Group Inc. grew its holdings in shares of Taysha Gene Therapies by 4,105.3% in 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 during the period. Adage Capital Partners GP L.L.C. purchased a new position in shares of Taysha Gene Therapies during the second quarter worth about $11,178,000. MPM Bioimpact LLC purchased a new stake in Taysha Gene Therapies in the second quarter valued at approximately $6,823,000. Octagon Capital Advisors LP grew its position in Taysha Gene Therapies by 17.7% during the 2nd quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company's stock worth $29,089,000 after purchasing an additional 1,892,500 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Taysha Gene Therapies by 1,178.9% in the fourth quarter. Bank of America Corp DE now owns 1,710,303 shares of the company's stock valued at $2,959,000 after purchasing an additional 1,576,568 shares during the period. Institutional investors and hedge funds own 77.70% of the company's stock.

Taysha Gene Therapies Trading Up 6.2%

Shares of NASDAQ TSHA opened at $3.25 on Friday. Taysha Gene Therapies has a fifty-two week low of $1.05 and a fifty-two week high of $3.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 12.48 and a current ratio of 12.48. The company has a market cap of $886.60 million, a price-to-earnings ratio of -9.56 and a beta of 0.98. The business's 50 day moving average price is $2.90 and its 200-day moving average price is $2.40.

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

About Taysha Gene Therapies

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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