Taysha Gene Therapies (NASDAQ:TSHA) Hits New 1-Year High - Should You Buy?

Key Points

• Taysha Gene Therapies (NASDAQ:TSHA) recently reached a new 52-week high, trading at $4.28, which marks a significant increase from its previous close of $3.18.
• Analysts are optimistic about Taysha Gene Therapies, with a consensus rating of "Buy" and an average price target of $8.29 following multiple supportive ratings from firms like Bank of America and Wells Fargo.
• The company reported negative earnings of ($0.09) per share for its latest quarter, missing expectations, despite revenues of $1.99 million surpassing the consensus estimate of $1.61 million.

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $4.09 and last traded at $4.28, with a volume of 17629594 shares traded. The stock had previously closed at $3.18.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America began coverage on shares of Taysha Gene Therapies in a report on Friday, July 11th. They issued a "buy" rating and a $8.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, July 1st. Wells Fargo & Company upped their target price on Taysha Gene Therapies from $7.50 to $8.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, Chardan Capital raised their price target on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, Taysha Gene Therapies currently has a consensus rating of "Buy" and an average price target of $8.29.

Taysha Gene Therapies Stock Up 39.2%

The stock has a 50 day simple moving average of $2.94 and a 200-day simple moving average of $2.43. The firm has a market cap of $1.21 billion, a PE ratio of -13.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 12.48 and a quick ratio of 12.48.

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 the consensus estimate of ($0.07) by ($0.02). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. The firm had revenue of $1.99 million for the quarter, compared to the consensus estimate of $1.61 million. Sell-side analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total value 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 represents a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.78% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of institutional investors have recently bought and sold shares of TSHA. Marex Group plc bought a new stake in Taysha Gene Therapies during the 2nd quarter worth approximately $29,000. E Fund Management Co. Ltd. bought a new stake in Taysha Gene Therapies in the second quarter worth $31,000. May Hill Capital LLC bought a new position in shares of Taysha Gene Therapies in the 2nd quarter valued at about $37,000. Ameriprise Financial Inc. purchased a new stake in Taysha Gene Therapies during the fourth quarter valued at approximately $40,000. Finally, BNP Paribas Financial Markets bought a new stake in Taysha Gene Therapies in the fourth quarter worth $41,000. 77.70% of the stock is owned by institutional investors.

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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