Taysha Gene Therapies (NASDAQ:TSHA) Hits New 52-Week High - Should You Buy?

Key Points

• Taysha Gene Therapies (NASDAQ:TSHA) reached a new 52-week high of $5.51, closing at $5.34 with a trading volume of over 1.1 million shares.
• Wall Street analysts are optimistic, with nine analysts rating the stock as a "Buy" and an average target price of $9.00, while Weiss Ratings issued a "sell (d-)" rating.
• The company reported a quarterly earnings per share of ($0.09), missing estimates, but exceeded revenue expectations with $1.99 million for the quarter.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.51 and last traded at $5.34, with a volume of 1108336 shares. The stock had previously closed at $5.16.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Chardan Capital upped their target price on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Bank of America started coverage on shares of Taysha Gene Therapies in a research report on Friday, July 11th. They set a "buy" rating and a $8.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Taysha Gene Therapies in a research report 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 report on Wednesday, August 13th. Finally, Needham & Company LLC increased their price objective on shares of Taysha Gene Therapies from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Taysha Gene Therapies Trading Up 2.0%

The stock has a market capitalization of $1.44 billion, a PE ratio of -15.48 and a beta of 0.99. The stock's 50 day moving average price is $3.33 and its 200-day moving average price is $2.63. The company has a quick ratio of 12.48, a current ratio of 12.48 and a debt-to-equity ratio of 0.17.

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

Insider Activity at Taysha Gene Therapies

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

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors have recently bought and sold shares of the stock. ST Germain D J Co. Inc. grew its stake in Taysha Gene Therapies by 81.8% during the third quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company's stock valued at $32,000 after acquiring an additional 4,333 shares in the last quarter. Granahan Investment Management LLC grew its stake in Taysha Gene Therapies by 0.3% during the first quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock valued at $2,281,000 after acquiring an additional 4,412 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Taysha Gene Therapies by 51.9% during the second quarter. BNP Paribas Financial Markets now owns 18,591 shares of the company's stock valued at $43,000 after acquiring an additional 6,350 shares in the last quarter. Prudential Financial Inc. grew its stake in Taysha Gene Therapies by 50.5% during the second quarter. Prudential Financial Inc. now owns 22,790 shares of the company's stock valued at $53,000 after acquiring an additional 7,650 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Taysha Gene Therapies by 156.5% during the second quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock valued at $41,000 after acquiring an additional 10,742 shares in the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.

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.

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