Taysha Gene Therapies (NASDAQ:TSHA) Earns "Buy" Rating from Chardan Capital

Key Points

• Chardan Capital has reaffirmed a "buy" rating for Taysha Gene Therapies (NASDAQ: TSHA) with a target price of $12.00, indicating a potential upside of 136.22% from its previous close.
• Recent reports show that various analysts, including Needham & Company and Robert W. Baird, have raised their target prices for TSHA, contributing to a consensus rating of "Moderate Buy" with an average target price of $9.25.
• Despite these positive ratings, Taysha Gene Therapies' stock price has fluctuated, recently opening at $5.08, and showing a 4.9% decline on a recent trading day.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Chardan Capital in a research report issued on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. Chardan Capital's price objective indicates a potential upside of 136.22% from the stock's previous close.

TSHA has been the subject of several other reports. Needham & Company LLC upped their target price on shares of Taysha Gene Therapies from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Robert W. Baird upped their target price on shares of Taysha Gene Therapies from $7.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Taysha Gene Therapies in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Bank of America began coverage on shares of Taysha Gene Therapies in a research note on Friday, July 11th. They set a "buy" rating and a $8.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $9.25.

Taysha Gene Therapies Stock Down 4.9%

Shares of Taysha Gene Therapies stock opened at $5.08 on Friday. The company has a fifty day moving average price of $3.43 and a 200 day moving average price of $2.67. The company has a current ratio of 12.48, a quick ratio of 12.48 and a debt-to-equity ratio of 0.17. Taysha Gene Therapies has a twelve month low of $1.05 and a twelve month high of $5.51. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -14.94 and a beta of 0.99.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its quarterly 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). Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%.The business had revenue of $1.99 million for the quarter, compared to analysts' expectations of $1.61 million. Equities research analysts forecast that Taysha Gene Therapies will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total transaction of $646,000.00. Following the transaction, the insider owned 1,006,439 shares of the company's stock, valued at approximately $3,250,797.97. This trade represents a 16.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.78% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Large investors have recently made changes to their positions in the business. Octagon Capital Advisors LP boosted its holdings in shares of Taysha Gene Therapies by 17.7% in the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company's stock worth $29,089,000 after buying an additional 1,892,500 shares during the period. Jefferies Financial Group Inc. boosted 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 worth $23,825,000 after buying an additional 10,068,479 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Taysha Gene Therapies in the second quarter worth about $11,178,000. Tybourne Capital Management HK Ltd. boosted its holdings in shares of Taysha Gene Therapies by 10.7% in the second quarter. Tybourne Capital Management HK Ltd. now owns 4,095,000 shares of the company's stock worth $9,459,000 after buying an additional 395,000 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Taysha Gene Therapies by 3.5% in the second quarter. Geode Capital Management LLC now owns 3,793,572 shares of the company's stock worth $8,765,000 after buying an additional 128,840 shares during the period. Institutional investors own 77.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.