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

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) 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.

A number of other research analysts have also issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $7.00 price objective on shares of Taysha Gene Therapies in a report on Monday, April 28th. Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a report on Thursday. Chardan Capital raised their price objective on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a "buy" rating in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $6.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, April 10th. Finally, Canaccord Genuity Group raised their price objective on shares of Taysha Gene Therapies from $8.00 to $9.00 and gave the company a "buy" rating in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Taysha Gene Therapies presently has a consensus rating of "Buy" and a consensus price target of $7.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TSHA. Ground Swell Capital LLC acquired a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $25,000. Cibc World Markets Corp acquired a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $28,000. E Fund Management Co. Ltd. acquired a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $31,000. Hsbc Holdings PLC lifted its position 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 purchasing an additional 8,076 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 77.70% of the company's stock.

Taysha Gene Therapies Stock Down 1.5%

The stock has a market cap of $581.73 million, a price-to-earnings ratio of 4.30 and a beta of 0.90. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 0.48. The stock's 50-day moving average price is $1.92 and its 200-day moving average price is $1.91.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $2.30 million during the quarter, compared to analyst estimates of $1.48 million. Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, sell-side analysts expect that Taysha Gene Therapies, Inc. will post -0.35 earnings per share 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.