Needham & Company LLC Reaffirms "Buy" Rating for Taysha Gene Therapies (NASDAQ:TSHA)

Needham & Company LLC restated their buy rating on shares of Taysha Gene Therapies (NASDAQ:TSHA - Free Report) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a $8.00 price objective on the stock.

TSHA has been the topic of several other research reports. Canaccord Genuity Group lifted their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a report on Monday, April 28th. Citigroup reissued an "outperform" rating on shares of Taysha Gene Therapies in a research report on Thursday, May 29th. Chardan Capital upped their price target on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, JMP Securities raised their price target on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 29th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $8.20.

Taysha Gene Therapies Stock Up 5.8%

TSHA traded up $0.14 during trading on Tuesday, reaching $2.48. The company had a trading volume of 1,228,730 shares, compared to its average volume of 2,915,113. The company has a market cap of $531.28 million, a P/E ratio of -7.25 and a beta of 0.97. Taysha Gene Therapies has a 12 month low of $1.05 and a 12 month high of $3.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.35 and a quick ratio of 5.35. The business's fifty day moving average price is $2.46 and its 200 day moving average price is $1.91.

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

Insider Buying and Selling at Taysha Gene Therapies

In related news, major shareholder Paul B. Manning bought 750,000 shares of the 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 completion of the transaction, the insider owned 2,841,704 shares in the company, valued at $7,814,686. The trade was a 35.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Granahan Investment Management LLC raised its stake in shares of Taysha Gene Therapies by 0.3% during the 1st quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock worth $2,281,000 after purchasing an additional 4,412 shares in the last quarter. Hsbc Holdings PLC increased its holdings in 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 buying an additional 8,076 shares during the last quarter. Virtus ETF Advisers LLC raised its position in Taysha Gene Therapies by 43.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 31,597 shares of the company's stock worth $55,000 after acquiring an additional 9,494 shares in the last quarter. Geode Capital Management LLC raised its position in Taysha Gene Therapies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company's stock worth $6,182,000 after acquiring an additional 9,591 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Taysha Gene Therapies by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company's stock valued at $820,000 after acquiring an additional 11,390 shares during the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

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.