Taysha Gene Therapies (NASDAQ:TSHA) Sees Unusually-High Trading Volume After Analyst Upgrade

Key Points

• Taysha Gene Therapies saw a significant increase in trading volume with 4.35 million shares traded after Robert W. Baird raised their price target from $7.00 to $12.00.
• The stock has received multiple analyst upgrades, with a consensus average target price of $9.00 and an overall rating of "Buy" from nine analysts.
• Insider Sukumar Nagendran sold 200,000 shares at an average price of $3.23, decreasing their stake in the company by 16.58%.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) shares saw unusually-strong trading volume on Friday after Robert W. Baird raised their price target on the stock from $7.00 to $12.00. Robert W. Baird currently has an outperform rating on the stock. Approximately 4,345,468 shares changed hands during trading, an increase of 17% from the previous session's volume of 3,728,293 shares.The stock last traded at $5.12 and had previously closed at $4.88.

Several other research firms also recently weighed in on TSHA. Needham & Company LLC raised their price target on Taysha Gene Therapies from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company raised their price target on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Bank of America began coverage on Taysha Gene Therapies in a research report on Friday, July 11th. They set a "buy" rating and a $8.00 price target for the company. Finally, Chardan Capital raised their price target on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $9.00.

Insiders Place Their Bets

In related news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total value of $646,000.00. Following the transaction, the insider owned 1,006,439 shares in the company, valued at approximately $3,250,797.97. This trade represents a 16.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.78% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marex Group plc acquired a new position in Taysha Gene Therapies in the second quarter valued at $29,000. E Fund Management Co. Ltd. acquired a new position in shares of Taysha Gene Therapies during the second quarter worth about $31,000. May Hill Capital LLC acquired a new position in shares of Taysha Gene Therapies during the second quarter worth about $37,000. Ameriprise Financial Inc. acquired a new position in shares of Taysha Gene Therapies during the fourth quarter worth about $40,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of 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 worth $41,000 after purchasing an additional 10,742 shares in the last quarter. Institutional investors and hedge funds own 77.70% of the company's stock.

Taysha Gene Therapies Stock Performance

The stock has a 50 day simple moving average of $2.98 and a 200 day simple moving average of $2.45. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -14.93 and a beta of 0.99. 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 issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). The company had revenue of $1.99 million for the quarter, compared to analyst estimates of $1.61 million. Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%. As a group, analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

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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