Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Up Following Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s share price gapped up prior to trading on Thursday after JMP Securities raised their price target on the stock from $5.00 to $6.00. The stock had previously closed at $2.44, but opened at $2.85. JMP Securities currently has a market outperform rating on the stock. Taysha Gene Therapies shares last traded at $2.92, with a volume of 2,788,287 shares trading hands.

A number of other brokerages have also issued reports on TSHA. Chardan Capital boosted their target price on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday. Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a research report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Canaccord Genuity Group boosted their target price on Taysha Gene Therapies from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $6.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, April 10th. Eight 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 price target of $7.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TSHA. Octagon Capital Advisors LP raised its position in Taysha Gene Therapies by 128.6% during the fourth quarter. Octagon Capital Advisors LP now owns 10,450,000 shares of the company's stock valued at $18,078,000 after buying an additional 5,877,778 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Taysha Gene Therapies during the 4th quarter worth about $8,650,000. Bank of America Corp DE boosted 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 acquiring an additional 1,576,568 shares in the last quarter. Norges Bank bought a new stake in shares of Taysha Gene Therapies during the 4th quarter worth about $2,528,000. Finally, Avoro Capital Advisors LLC boosted its stake in shares of Taysha Gene Therapies by 7.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 19,999,999 shares of the company's stock worth $34,600,000 after acquiring an additional 1,349,999 shares in the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

Taysha Gene Therapies Stock Performance

The firm has a 50 day moving average of $1.92 and a two-hundred day moving average of $1.90. The stock has a market cap of $593.33 million, a P/E ratio of 4.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, meeting 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 firm had revenue of $2.30 million during the quarter, compared to the consensus estimate of $1.48 million. During the same quarter in the prior year, the company earned ($0.10) EPS. On average, research analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal 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.