Taysha Gene Therapies (NASDAQ:TSHA) Price Target Raised to $10.00

Key Points

• Taysha Gene Therapies has had its price target raised from $9.00 to $10.00 by Chardan Capital, indicating a potential upside of 243.64% from its current price.
• The company recently reported a quarterly earnings miss with earnings per share of ($0.09), falling short of the consensus estimate of ($0.07), but exceeded revenue expectations.
• Major shareholder Paul B. Manning purchased 750,000 shares at an average price of $2.75, increasing his holdings by 35.86%.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) had its target price hoisted by equities research analysts at Chardan Capital from $9.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Chardan Capital's price objective would suggest a potential upside of 243.64% from the company's current price.

A number of other research analysts have also recently commented on the company. Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. JMP Securities raised their price objective on Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a research report on Thursday, May 29th. Cantor Fitzgerald reissued an "overweight" rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a report on Monday, April 28th. Canaccord Genuity Group lifted their target price on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $8.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $8.33.

Taysha Gene Therapies Trading Up 5.4%

TSHA traded up $0.15 on Tuesday, hitting $2.91. 4,901,252 shares of the company were exchanged, compared to its average volume of 2,879,104. The firm has a fifty day simple moving average of $2.59 and a two-hundred day simple moving average of $2.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.35 and a current ratio of 5.35. Taysha Gene Therapies has a 12 month low of $1.05 and a 12 month high of $3.31. The stock has a market capitalization of $624.66 million, a PE ratio of -8.56 and a beta of 0.98.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings data 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 return on equity of 104.93% and a negative net margin of 1,201.08%. The business had revenue of $1.99 million during the quarter, compared to analysts' expectations of $1.61 million. Sell-side analysts expect that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Insider Activity at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning acquired 750,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was bought at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the acquisition, the insider directly owned 2,841,704 shares of the company's stock, valued at approximately $7,814,686. The trade was a 35.86% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.78% of the stock is owned by insiders.

Institutional Trading of Taysha Gene Therapies

Several large investors have recently modified their holdings of the company. Ground Swell Capital LLC bought a new stake in Taysha Gene Therapies during the fourth quarter valued at about $25,000. Hsbc Holdings PLC grew 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 valued at $36,000 after purchasing an additional 8,076 shares during the period. May Hill Capital LLC bought a new stake in Taysha Gene Therapies during the second quarter valued at about $37,000. Ameriprise Financial Inc. bought a new position in shares of Taysha Gene Therapies in the fourth quarter worth about $40,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Taysha Gene Therapies in the fourth quarter worth about $41,000. Institutional investors own 77.70% of the company's stock.

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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