Taysha Gene Therapies (NASDAQ:TSHA) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Taysha Gene Therapies (NASDAQ:TSHA - Free Report) in a research note released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $8.00 price objective on the stock.

Several other research firms have also issued reports on TSHA. JMP Securities increased their target price on 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Canaccord Genuity Group raised their price objective on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Chardan Capital lifted their price objective 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. Finally, Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $8.20.

Taysha Gene Therapies Trading Down 1.2%

Shares of TSHA stock traded down $0.03 during trading hours on Tuesday, hitting $2.40. The company had a trading volume of 726,725 shares, compared to its average volume of 2,924,120. 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 stock has a market capitalization of $515.18 million, a PE ratio of -7.06 and a beta of 0.97. The company's fifty day moving average is $2.50 and its 200 day moving average is $1.92. Taysha Gene Therapies has a fifty-two week low of $1.05 and a fifty-two week high of $3.31.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). Taysha Gene Therapies had a negative return on equity of 104.93% and a negative net margin of 1,201.08%. The company had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.48 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. Research analysts expect that Taysha Gene Therapies will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Paul B. Manning purchased 750,000 shares of Taysha Gene Therapies stock in a transaction on Friday, May 30th. The shares were bought at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the transaction, the insider directly owned 2,841,704 shares of the company's stock, valued at approximately $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of institutional investors and hedge funds have recently made changes to their positions in TSHA. Ground Swell Capital LLC acquired a new stake in Taysha Gene Therapies in the fourth quarter valued at approximately $25,000. Cibc World Markets Corp purchased a new stake in shares of Taysha Gene Therapies in the 4th quarter valued at approximately $28,000. E Fund Management Co. Ltd. purchased a new stake in shares of Taysha Gene Therapies in the 4th quarter valued at approximately $31,000. Hsbc Holdings PLC raised its holdings in shares of Taysha Gene Therapies by 65.6% in the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock valued at $36,000 after purchasing an additional 8,076 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Taysha Gene Therapies in the 4th quarter valued at $39,000. 77.70% of the stock is owned by institutional investors and hedge funds.

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.