Canaccord Genuity Group Issues Positive Forecast for Taysha Gene Therapies (NASDAQ:TSHA) Stock Price

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) had its price target raised by research analysts at Canaccord Genuity Group from $9.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 294.27% from the company's current price.

Several other equities analysts have also recently commented on TSHA. Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Chardan Capital boosted their price target on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a report on Monday, April 28th. JMP Securities lifted their price objective on Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $8.00 target price (up from $6.00) on shares of Taysha Gene Therapies in a research report on Monday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Taysha Gene Therapies has an average rating of "Buy" and a consensus price target of $7.57.

Taysha Gene Therapies Stock Performance

NASDAQ TSHA traded up $0.01 during trading on Tuesday, hitting $2.79. 4,276,991 shares of the company's stock traded hands, compared to its average volume of 3,012,049. The stock has a market capitalization of $598.91 million, a price-to-earnings ratio of 4.43 and a beta of 0.90. Taysha Gene Therapies has a 12-month low of $1.05 and a 12-month high of $4.32. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51. The business has a 50 day moving average of $1.96 and a 200-day moving average of $1.91.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). Taysha Gene Therapies had a negative return on equity of 106.36% and a negative net margin of 229.67%. The business had revenue of $2.30 million during the quarter, compared to the consensus estimate of $1.48 million. During the same quarter last year, the company earned ($0.10) EPS. As a group, equities research analysts anticipate that Taysha Gene Therapies will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Paul B. Manning bought 750,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the purchase, the insider now directly owns 2,841,704 shares in the company, valued at $7,814,686. The trade was a 35.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors have recently modified their holdings of TSHA. Granahan Investment Management LLC boosted its stake in Taysha Gene Therapies by 0.3% in the first quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock worth $2,281,000 after buying an additional 4,412 shares in the last quarter. Hsbc Holdings PLC lifted 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 worth $36,000 after acquiring an additional 8,076 shares during the last quarter. Virtus ETF Advisers LLC lifted its holdings in shares of Taysha Gene Therapies by 43.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 31,597 shares of the company's stock worth $55,000 after acquiring an additional 9,494 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Taysha Gene Therapies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company's stock valued at $6,182,000 after purchasing an additional 9,591 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Taysha Gene Therapies by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company's stock valued at $820,000 after purchasing an additional 11,390 shares during the last quarter. 77.70% of the stock is currently owned by 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.