Taysha Gene Therapies (NASDAQ:TSHA) Price Target Raised to $17.00

Key Points

• Analyst Canaccord Genuity raised its price target on Taysha Gene Therapies to $17 (from $14) and kept a buy rating, implying roughly a 262% upside from the current share price.
• Shares trade around $4.70 (market cap ~$1.35B) after the company beat quarterly EPS and revenue estimates, but insiders sold about 598,623 shares (~$2.82M) in the last three months and analysts' average price target sits at $11.64 with a consensus rating of "Buy."

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) had its price objective lifted by stock analysts at Canaccord Genuity Group from $14.00 to $17.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 262.09% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Taysha Gene Therapies from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Wells Fargo & Company lifted their price objective on Taysha Gene Therapies from $8.00 to $11.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Chardan Capital reiterated a "buy" rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a research note on Thursday, March 19th. Needham & Company LLC increased their target price on Taysha Gene Therapies from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Taysha Gene Therapies in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Taysha Gene Therapies has an average rating of "Buy" and an average price target of $11.64.

Taysha Gene Therapies Stock Performance

Shares of NASDAQ TSHA traded up $0.33 during trading hours on Monday, reaching $4.70. The stock had a trading volume of 2,239,191 shares, compared to its average volume of 2,707,082. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -13.81 and a beta of 1.10. Taysha Gene Therapies has a twelve month low of $1.05 and a twelve month high of $6.02. The business's fifty day moving average is $4.54 and its two-hundred day moving average is $4.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 12.23 and a quick ratio of 12.23.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03. The business had revenue of $5.49 million for the quarter, compared to analyst estimates of $1.89 million. As a group, research analysts expect that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Activity at Taysha Gene Therapies

In other Taysha Gene Therapies news, CFO Kamran Alam sold 23,849 shares of Taysha Gene Therapies stock in a transaction on Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $109,943.89. Following the completion of the transaction, the chief financial officer owned 1,443,786 shares in the company, valued at approximately $6,655,853.46. The trade was a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sukumar Nagendran sold 26,918 shares of the business's stock in a transaction on Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $124,091.98. Following the completion of the transaction, the insider directly owned 1,317,389 shares in the company, valued at approximately $6,073,163.29. This represents a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 598,623 shares of company stock valued at $2,822,188 in the last three months. Corporate insiders own 3.78% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors have recently modified their holdings of the stock. B Group Inc. raised its position in shares of Taysha Gene Therapies by 43.4% during the second quarter. B Group Inc. now owns 1,800,556 shares of the company's stock worth $4,159,000 after acquiring an additional 545,000 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in Taysha Gene Therapies in the third quarter valued at about $1,890,000. Ally Bridge Group NY LLC acquired a new stake in Taysha Gene Therapies in the third quarter worth about $6,207,000. GSA Capital Partners LLP raised its holdings in Taysha Gene Therapies by 969.0% during the 3rd quarter. GSA Capital Partners LLP now owns 477,749 shares of the company's stock worth $1,562,000 after purchasing an additional 433,059 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Taysha Gene Therapies during the 4th quarter worth about $1,697,000. 77.70% of the stock is owned by institutional investors.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc NASDAQ: TSHA is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.