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

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 - Free Report) had its price objective increased by Chardan Capital from $9.00 to $10.00 in a research note published on Tuesday,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

A number of other brokerages have also commented on TSHA. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Bank of America began 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. JMP Securities increased their target price on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a "market outperform" rating in a report on Thursday, May 29th. Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $7.00 target price on shares of Taysha Gene Therapies in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $8.29.

Taysha Gene Therapies Stock Performance

Shares of NASDAQ TSHA remained flat at $2.94 during trading on Tuesday. 2,891,415 shares of the stock traded hands, compared to its average volume of 2,742,484. The company has a debt-to-equity ratio of 0.17, a current ratio of 12.48 and a quick ratio of 12.48. The firm has a fifty day moving average of $2.60 and a two-hundred day moving average of $2.12. The firm has a market cap of $631.10 million, a price-to-earnings ratio of -8.65 and a beta of 0.98. Taysha Gene Therapies has a 52-week low of $1.05 and a 52-week high of $3.31.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.99 million for the quarter, compared to analysts' expectations of $1.61 million. On average, analysts predict that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Buying and Selling at Taysha Gene Therapies

In other Taysha Gene Therapies news, major shareholder Paul B. Manning bought 750,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were bought at an average cost 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 in the company, valued at approximately $7,814,686. This trade represents a 35.86% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. grew its stake in shares of Taysha Gene Therapies by 4,105.3% in the second quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company's stock worth $23,825,000 after purchasing an additional 10,068,479 shares in the last quarter. Octagon Capital Advisors LP boosted its position in shares of Taysha Gene Therapies by 128.6% in the 4th quarter. Octagon Capital Advisors LP now owns 10,450,000 shares of the company's stock valued at $18,078,000 after purchasing an additional 5,877,778 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Taysha Gene Therapies during the 4th quarter worth about $8,650,000. MPM Bioimpact LLC acquired a new stake in Taysha Gene Therapies during the 2nd quarter worth about $6,823,000. Finally, Bank of America Corp DE increased its stake in shares of Taysha Gene Therapies by 1,178.9% during the 4th quarter. Bank of America Corp DE now owns 1,710,303 shares of the company's stock worth $2,959,000 after purchasing an additional 1,576,568 shares during the last quarter. 77.70% of the stock is currently 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.