Taysha Gene Therapies (NASDAQ:TSHA) Sets New 12-Month High - Still a Buy?

Key Points

• Shares hit a new 52-week high, trading as high as $6.04 (last at $6.00) on heavy volume (~9.83M shares) after closing the prior session at $4.71.
• Analyst sentiment is broadly positive with a MarketBeat consensus of "Buy" and a $11.64 price target, and several firms raising ratings/targets (notably Canaccord to $17 and Truist to "strong-buy").
• Insiders have sold meaningful stock recently (598,623 shares over 90 days, including CEO and an insider sale of 200,000 shares), even as institutional investors materially increased holdings; the company beat quarterly revenue and EPS estimates but remains unprofitable (expected -0.35 EPS for the year).

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $6.04 and last traded at $6.00, with a volume of 9830509 shares trading hands. The stock had previously closed at $4.71.

Analyst Ratings Changes

TSHA has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Taysha Gene Therapies in a report on Friday, March 27th. Wall Street Zen raised Taysha Gene Therapies from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Canaccord Genuity Group upped their target price on shares of Taysha Gene Therapies from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Truist Financial upgraded shares of Taysha Gene Therapies to a "strong-buy" rating in a research note on Wednesday, March 25th. Finally, Needham & Company LLC upped their target price on shares of Taysha Gene Therapies from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Taysha Gene Therapies presently has a consensus rating of "Buy" and a consensus price target of $11.64.

Taysha Gene Therapies Price Performance

The firm has a fifty day moving average price of $4.56 and a two-hundred day moving average price of $4.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 12.23 and a current ratio of 12.23. The stock has a market capitalization of $1.72 billion, a P/E ratio of -17.65 and a beta of 1.10.

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

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $4.46, for a total value of $892,000.00. Following the transaction, the insider directly owned 1,136,410 shares in the company, valued at approximately $5,068,388.60. This trade represents a 14.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sean P. Nolan sold 136,789 shares of the firm's stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $4.75, for a total value of $649,747.75. Following the completion of the transaction, the chief executive officer directly owned 2,949,569 shares in the company, valued at approximately $14,010,452.75. This represents a 4.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 598,623 shares of company stock worth $2,772,188. Company insiders own 3.78% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TSHA. Vestal Point Capital LP raised its stake in shares of Taysha Gene Therapies by 150.0% in the fourth quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company's stock worth $75,625,000 after buying an additional 8,250,000 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in shares of Taysha Gene Therapies during the 2nd quarter valued at $11,178,000. Barclays PLC lifted its stake in shares of Taysha Gene Therapies by 1,042.8% during the 3rd quarter. Barclays PLC now owns 5,148,112 shares of the company's stock valued at $16,834,000 after buying an additional 4,697,611 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Taysha Gene Therapies during the 4th quarter valued at $20,471,000. Finally, State Street Corp lifted its stake in shares of Taysha Gene Therapies by 49.1% during the 4th quarter. State Street Corp now owns 10,790,084 shares of the company's stock valued at $59,345,000 after buying an additional 3,553,619 shares in the last quarter. Institutional investors own 77.70% of the company's stock.

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.

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